Smithfield Trust Co. Reduces Stake in Deluxe Corp. (DLX)
Smithfield Trust Co. decreased its position in Deluxe Corp. (NYSE:DLX) by 6.5% during the second quarter, Holdings Channel reports. The firm owned 4,080 shares of the company’s stock after selling 283 shares during the period. Smithfield Trust Co.’s holdings in Deluxe Corp. were worth $271,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in Deluxe Corp. by 273.0% in the second quarter. Nordea Investment Management AB now owns 10,189 shares of the company’s stock worth $676,000 after buying an additional 7,457 shares during the period. First Citizens Bank & Trust Co. increased its stake in Deluxe Corp. by 6.5% in the second quarter. First Citizens Bank & Trust Co. now owns 7,153 shares of the company’s stock worth $475,000 after buying an additional 435 shares during the period. Sit Investment Associates Inc. increased its stake in Deluxe Corp. by 893.8% in the second quarter. Sit Investment Associates Inc. now owns 19,875 shares of the company’s stock worth $1,319,000 after buying an additional 17,875 shares during the period. Huntington National Bank increased its stake in Deluxe Corp. by 57.2% in the second quarter. Huntington National Bank now owns 3,076 shares of the company’s stock worth $204,000 after buying an additional 1,119 shares during the period. Finally, Monarch Partners Asset Management LLC increased its stake in Deluxe Corp. by 5.2% in the second quarter. Monarch Partners Asset Management LLC now owns 351,118 shares of the company’s stock worth $23,304,000 after buying an additional 17,430 shares during the period. 91.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Deluxe Corp. (NYSE:DLX) traded up 0.76% on Tuesday, reaching $65.87. 59,042 shares of the company’s stock were exchanged. Deluxe Corp. has a 12 month low of $49.46 and a 12 month high of $70.26. The firm’s 50-day moving average price is $67.42 and its 200 day moving average price is $65.79. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 14.03 and a beta of 1.39.
Deluxe Corp. (NYSE:DLX) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. Deluxe Corp. had a net margin of 12.86% and a return on equity of 31.19%. The firm had revenue of $450.60 million for the quarter, compared to analysts’ expectations of $450.56 million. During the same period in the previous year, the firm posted $1.13 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts predict that Deluxe Corp. will post $4.93 EPS for the current fiscal year.
Separately, Zacks Investment Research cut shares of Deluxe Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th.
In other Deluxe Corp. news, Director Neil Metviner sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $69.23, for a total transaction of $553,840.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.
About Deluxe Corp.
Deluxe Corporation provides payment solutions. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. Its Small Business Services segment offers services for marketing needs of small businesses, including Web design, hosting and other Web services; search engine optimization; marketing services, including e-mail, mobile, social media and other self-service marketing solutions; digital printing services, and logo design.
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