Libbey Inc. (LBY) Short Interest Update
Libbey Inc. (NYSE:LBY) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 843,289 shares, a decrease of 1.2% from the July 14th total of 853,145 shares. Based on an average daily trading volume, of 181,173 shares, the short-interest ratio is presently 4.7 days. Currently, 4.0% of the company’s shares are short sold.
Separately, Zacks Investment Research upgraded Libbey from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th.
Libbey (NYSE:LBY) opened at 8.10 on Friday. The firm has a 50-day moving average price of $8.08 and a 200 day moving average price of $11.49. Libbey has a 12 month low of $7.33 and a 12 month high of $20.76. The company’s market cap is $178.31 million.
Libbey (NYSE:LBY) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.16. Libbey had a negative return on equity of 18.44% and a negative net margin of 3.78%. The firm had revenue of $197.50 million for the quarter, compared to the consensus estimate of $198.29 million. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue was down 5.0% compared to the same quarter last year. Equities research analysts predict that Libbey will post $0.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th will be given a dividend of $0.1175 per share. The ex-dividend date is Friday, August 4th. This represents a $0.47 dividend on an annualized basis and a yield of 5.80%.
In related news, VP Salvador Minarro purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average price of $8.43 per share, for a total transaction of $84,300.00. Following the acquisition, the vice president now owns 10,000 shares of the company’s stock, valued at approximately $84,300. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Foley purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average price of $8.13 per share, for a total transaction of $40,650.00. Following the acquisition, the chief executive officer now directly owns 52,732 shares in the company, valued at approximately $428,711.16. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,000 shares of company stock worth $149,550 in the last 90 days.
Large investors have recently bought and sold shares of the stock. Prudential Financial Inc. acquired a new stake in Libbey during the second quarter worth approximately $386,000. Nationwide Fund Advisors increased its stake in Libbey by 73.2% in the second quarter. Nationwide Fund Advisors now owns 85,573 shares of the company’s stock worth $690,000 after buying an additional 36,169 shares in the last quarter. IndexIQ Advisors LLC acquired a new stake in Libbey during the second quarter worth approximately $261,000. Algert Global LLC acquired a new stake in Libbey during the second quarter worth approximately $159,000. Finally, Teachers Advisors LLC increased its stake in Libbey by 47.5% in the second quarter. Teachers Advisors LLC now owns 55,940 shares of the company’s stock worth $451,000 after buying an additional 18,006 shares in the last quarter.
Libbey Inc is engaged in the design, production and sale of tableware and other products. The Company’s segments are U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA) and Other. The U.S. & Canada segment includes sales of manufactured and sourced tableware having an end market destination in the United States and Canada, excluding glass products for original equipment manufacturers (OEMs), which remain in the Latin America segment.
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