Municipal Employees Retirement System of Michigan Purchases 23,710 Shares of Leucadia National Corporation (LUK)
Municipal Employees Retirement System of Michigan boosted its position in shares of Leucadia National Corporation (NYSE:LUK) by 228.4% during the second quarter, Holdings Channel reports. The fund owned 34,090 shares of the conglomerate’s stock after buying an additional 23,710 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Leucadia National Corporation were worth $892,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc raised its position in shares of Leucadia National Corporation by 14.2% in the first quarter. IFP Advisors Inc now owns 6,258 shares of the conglomerate’s stock worth $163,000 after buying an additional 776 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Leucadia National Corporation during the first quarter worth approximately $192,000. Atria Investments LLC purchased a new position in shares of Leucadia National Corporation during the first quarter worth approximately $200,000. Ameritas Investment Partners Inc. purchased a new position in shares of Leucadia National Corporation during the first quarter worth approximately $202,000. Finally, Cleararc Capital Inc. purchased a new position in shares of Leucadia National Corporation during the first quarter worth approximately $205,000. Institutional investors and hedge funds own 75.23% of the company’s stock.
Leucadia National Corporation (NYSE LUK) opened at 24.72 on Friday. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 14.65 and a beta of 1.25. Leucadia National Corporation has a 1-year low of $17.87 and a 1-year high of $27.34. The firm’s 50-day moving average price is $26.25 and its 200 day moving average price is $25.64.
Leucadia National Corporation (NYSE:LUK) last released its earnings results on Thursday, July 27th. The conglomerate reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.14. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.65 billion. Leucadia National Corporation had a net margin of 5.94% and a return on equity of 6.27%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. On average, analysts predict that Leucadia National Corporation will post $1.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from Leucadia National Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, September 15th. Leucadia National Corporation’s dividend payout ratio is presently 3.55%.
LUK has been the subject of a number of recent research reports. TheStreet upgraded Leucadia National Corporation from a “c” rating to a “b” rating in a research note on Friday, May 5th. BidaskClub upgraded Leucadia National Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research lowered Leucadia National Corporation from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 11th.
About Leucadia National Corporation
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value. The Company’s segments, based on requirements are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm.
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