Smithfield Trust Co. Increases Position in Deluxe Corporation (DLX)
Smithfield Trust Co. increased its stake in shares of Deluxe Corporation (NYSE:DLX) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,638 shares of the business services provider’s stock after buying an additional 70 shares during the period. Smithfield Trust Co.’s holdings in Deluxe Corporation were worth $252,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in DLX. BlackRock Inc. boosted its stake in shares of Deluxe Corporation by 23,073.3% in the first quarter. BlackRock Inc. now owns 5,191,045 shares of the business services provider’s stock worth $374,639,000 after buying an additional 5,168,644 shares during the period. Vanguard Group Inc. boosted its stake in shares of Deluxe Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 4,133,898 shares of the business services provider’s stock worth $298,344,000 after buying an additional 155,227 shares during the period. LSV Asset Management boosted its stake in shares of Deluxe Corporation by 4.3% in the first quarter. LSV Asset Management now owns 1,900,050 shares of the business services provider’s stock worth $137,126,000 after buying an additional 78,223 shares during the period. State Street Corp boosted its stake in shares of Deluxe Corporation by 1.6% in the first quarter. State Street Corp now owns 1,598,176 shares of the business services provider’s stock worth $115,345,000 after buying an additional 25,359 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Deluxe Corporation by 8.5% in the first quarter. Ameriprise Financial Inc. now owns 773,623 shares of the business services provider’s stock worth $55,835,000 after buying an additional 60,898 shares during the period. 93.25% of the stock is owned by institutional investors.
Shares of Deluxe Corporation (NYSE:DLX) opened at 70.19 on Monday. The stock has a market capitalization of $3.39 billion, a PE ratio of 15.02 and a beta of 1.35. The company’s 50-day moving average is $70.33 and its 200-day moving average is $71.29. Deluxe Corporation has a 12 month low of $59.47 and a 12 month high of $75.94.
Deluxe Corporation (NYSE:DLX) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $485.20 million for the quarter, compared to the consensus estimate of $479.42 million. Deluxe Corporation had a net margin of 11.98% and a return on equity of 27.83%. Deluxe Corporation’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. Equities research analysts expect that Deluxe Corporation will post $5.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.71%. Deluxe Corporation’s dividend payout ratio is currently 25.64%.
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DLX has been the subject of a number of research reports. BidaskClub cut shares of Deluxe Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Zacks Investment Research raised shares of Deluxe Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Tuesday, May 2nd.
In other news, Director Ronald C. Baldwin sold 2,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.41, for a total transaction of $144,820.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John D. Filby sold 18,936 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.21, for a total transaction of $1,367,368.56. Following the transaction, the vice president now owns 46,154 shares in the company, valued at approximately $3,332,780.34. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Deluxe Corporation Company Profile
Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.
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