Bank of New York Mellon Corp Boosts Position in Limoneira Co (LMNR)
Bank of New York Mellon Corp increased its position in shares of Limoneira Co (NASDAQ:LMNR) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,421 shares of the company’s stock after acquiring an additional 10,314 shares during the period. Bank of New York Mellon Corp owned about 0.57% of Limoneira worth $1,948,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of LMNR. American International Group Inc. lifted its stake in Limoneira by 7.0% during the 1st quarter. American International Group Inc. now owns 7,214 shares of the company’s stock worth $151,000 after acquiring an additional 471 shares in the last quarter. Wells Fargo & Company MN raised its position in Limoneira by 5.2% in the 1st quarter. Wells Fargo & Company MN now owns 8,336 shares of the company’s stock valued at $175,000 after purchasing an additional 410 shares in the last quarter. Algert Global LLC acquired a new stake in Limoneira in the 2nd quarter valued at about $276,000. Wedbush Securities Inc. acquired a new stake in Limoneira in the 2nd quarter valued at about $279,000. Finally, Rhumbline Advisers raised its position in Limoneira by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 13,838 shares of the company’s stock valued at $327,000 after purchasing an additional 545 shares in the last quarter. 26.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on LMNR shares. BidaskClub lowered Limoneira from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Zacks Investment Research lowered Limoneira from a “buy” rating to a “hold” rating in a research report on Friday, August 25th.
Shares of Limoneira Co (NASDAQ:LMNR) opened at 23.65 on Monday. Limoneira Co has a 52-week low of $16.39 and a 52-week high of $24.50. The firm has a 50-day moving average price of $22.68 and a 200-day moving average price of $21.42. The firm has a market cap of $340.68 million, a price-to-earnings ratio of 40.64 and a beta of 0.89.
Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Monday, September 11th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). Limoneira had a net margin of 7.42% and a return on equity of 6.64%. The firm had revenue of $40.40 million for the quarter, compared to analysts’ expectations of $37.94 million. During the same period last year, the firm posted $0.71 EPS. Limoneira’s revenue was up 1.3% on a year-over-year basis. Analysts predict that Limoneira Co will post $0.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Monday, October 9th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, October 5th. Limoneira’s payout ratio is 37.29%.
In other news, insider Harold S. Edwards sold 6,652 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $23.00, for a total value of $152,996.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald L. Michaelis sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $22.70, for a total value of $34,050.00. Following the completion of the sale, the director now directly owns 9,686 shares of the company’s stock, valued at approximately $219,872.20. The disclosure for this sale can be found here. Insiders sold 11,646 shares of company stock valued at $267,557 in the last ninety days. Company insiders own 5.70% of the company’s stock.
Limoneira Company Profile
Limoneira Company is engaged in agribusiness and real estate development. The Company’s operations consist of fruit production, sales and marketing, rental operations, real estate development and capital investment activities. The Company’s segments include lemon operations, other agribusiness, rental operations and real estate development.
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