Tower Research Capital LLC TRC Buys 3,058 Shares of Lexmark International Inc. (LXK)
Tower Research Capital LLC TRC increased its position in shares of Lexmark International Inc. (NYSE:LXK) by 1,318.1% during the second quarter, Holdings Channel reports. The fund owned 3,290 shares of the company’s stock after buying an additional 3,058 shares during the period. Tower Research Capital LLC TRC’s holdings in Lexmark International were worth $124,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LXK. Virginia Retirement Systems ET AL purchased a new position in Lexmark International during the second quarter worth about $325,000. CQS Cayman LP purchased a new position in Lexmark International during the second quarter worth about $2,114,000. Principal Financial Group Inc. boosted its position in Lexmark International by 13.2% in the second quarter. Principal Financial Group Inc. now owns 235,803 shares of the company’s stock worth $8,902,000 after buying an additional 27,575 shares during the period. Hancock Holding Co. boosted its position in Lexmark International by 4.8% in the second quarter. Hancock Holding Co. now owns 23,778 shares of the company’s stock worth $897,000 after buying an additional 1,091 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Lexmark International by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,579,996 shares of the company’s stock worth $135,144,000 after buying an additional 74,890 shares during the period. Institutional investors own 84.36% of the company’s stock.
Lexmark International Inc. (NYSE:LXK) opened at 39.98 on Wednesday. Lexmark International Inc. has a 1-year low of $24.11 and a 1-year high of $40.25. The stock has a 50 day moving average of $36.84 and a 200-day moving average of $36.70. The company’s market cap is $2.51 billion.
Lexmark International (NYSE:LXK) last issued its earnings results on Friday, July 29th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. The company had revenue of $865 million for the quarter, compared to analysts’ expectations of $855.23 million. Lexmark International had a negative net margin of 2.89% and a positive return on equity of 15.79%. During the same period in the prior year, the firm earned $0.97 EPS. On average, equities research analysts predict that Lexmark International Inc. will post $2.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.44 annualized dividend and a yield of 3.60%. Lexmark International’s dividend payout ratio is currently -89.44%.
Separately, Zacks Investment Research cut shares of Lexmark International from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 25th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $35.50.
Lexmark International Company Profile
Lexmark International, Inc is a developer, manufacturer and supplier of printing, imaging, device management, managed print services (MPS), document workflow, and business process and content management solutions. The Company operates through two segments: Imaging Solutions and Services (ISS) and Enterprise Software.
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