Oppenheimer & Co. Inc. Cuts Holdings in LSC Communications Inc (LKSD)
Oppenheimer & Co. Inc. cut its holdings in shares of LSC Communications Inc (NASDAQ:LKSD) by 23.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,035 shares of the company’s stock after selling 5,219 shares during the period. Oppenheimer & Co. Inc. owned 0.05% of LSC Communications worth $364,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in LKSD. SG Americas Securities LLC acquired a new position in LSC Communications during the 2nd quarter valued at about $138,000. Sei Investments Co. lifted its position in LSC Communications by 53.3% during the 2nd quarter. Sei Investments Co. now owns 6,508 shares of the company’s stock valued at $139,000 after purchasing an additional 2,263 shares during the period. State of Alaska Department of Revenue lifted its position in LSC Communications by 85.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,652 shares of the company’s stock valued at $142,000 after purchasing an additional 3,062 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in LSC Communications by 32.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the company’s stock valued at $172,000 after purchasing an additional 1,950 shares during the period. Finally, Airain ltd acquired a new position in LSC Communications during the 2nd quarter valued at about $256,000.
Shares of LSC Communications Inc (NASDAQ:LKSD) opened at 16.75 on Friday. The firm has a market capitalization of $584.42 million and a P/E ratio of 11.01. The company has a 50 day moving average of $16.67 and a 200-day moving average of $21.54. LSC Communications Inc has a 12 month low of $16.12 and a 12 month high of $37.40.
LSC Communications (NASDAQ:LKSD) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.09). The company had revenue of $848.00 million during the quarter, compared to analyst estimates of $876.38 million. LSC Communications had a return on equity of 7.63% and a net margin of 0.59%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. Analysts predict that LSC Communications Inc will post $2.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Tuesday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend was Friday, August 11th.
In related news, Director Shivan S. Subramaniam acquired 3,500 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average cost of $16.41 per share, with a total value of $57,435.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of LSC Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Bank of America Corporation assumed coverage on shares of LSC Communications in a research report on Wednesday, May 24th. They set a “neutral” rating and a $24.00 target price on the stock. J P Morgan Chase & Co started coverage on shares of LSC Communications in a research report on Friday, July 21st. They set a “neutral” rating on the stock. Finally, Citigroup Inc. started coverage on shares of LSC Communications in a research report on Tuesday, May 30th. They issued a “neutral” rating and a $23.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. LSC Communications currently has a consensus rating of “Hold” and an average price target of $24.00.
LSC Communications Company Profile
LSC Communications, Inc focuses on traditional and digital print, print-related services and office products. The Company’s segments are Print and Office Products. The Company, through its Print segment, provides a range of print product offerings, which include magazines, catalogs, retail inserts, books and directories.
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