Morgan Stanley reduced its holdings in RR Donnelley & Sons Co (NYSE:RRD) by 45.3% during the 3rd quarter, Holdings Channel reports. The fund owned 323,298 shares of the business services provider’s stock after selling 267,687 shares during the period. Morgan Stanley’s holdings in RR Donnelley & Sons were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of RR Donnelley & Sons by 3.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,564,011 shares of the business services provider’s stock valued at $8,445,000 after acquiring an additional 55,050 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of RR Donnelley & Sons in the 3rd quarter valued at $6,480,000. Dimensional Fund Advisors LP boosted its holdings in shares of RR Donnelley & Sons by 49.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,151,853 shares of the business services provider’s stock valued at $6,220,000 after acquiring an additional 378,642 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of RR Donnelley & Sons by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,577 shares of the business services provider’s stock valued at $5,274,000 after acquiring an additional 134,949 shares during the last quarter. Finally, Credit Suisse AG boosted its holdings in shares of RR Donnelley & Sons by 8.4% in the 3rd quarter. Credit Suisse AG now owns 856,243 shares of the business services provider’s stock valued at $4,624,000 after acquiring an additional 66,602 shares during the last quarter. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded shares of RR Donnelley & Sons from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th.

Shares of NYSE RRD opened at $4.95 on Friday. RR Donnelley & Sons Co has a 1 year low of $3.49 and a 1 year high of $9.56. The firm has a market cap of $347.29 million, a P/E ratio of 7.03 and a beta of 1.46.

RR Donnelley & Sons (NYSE:RRD) last announced its quarterly earnings results on Tuesday, February 26th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.02). RR Donnelley & Sons had a negative return on equity of 22.03% and a negative net margin of 0.16%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the company posted $0.81 earnings per share. The business’s quarterly revenue was down 8.6% on a year-over-year basis. As a group, analysts anticipate that RR Donnelley & Sons Co will post 0.74 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 15th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 14th. RR Donnelley & Sons’s dividend payout ratio (DPR) is presently 17.14%.

TRADEMARK VIOLATION WARNING: This piece was first posted by Daily Political and is the property of of Daily Political. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.dailypolitical.com/2019/03/16/morgan-stanley-sells-267687-shares-of-rr-donnelley-sons-co-rrd.html.

RR Donnelley & Sons Profile

R.R. Donnelley & Sons Company, an integrated communications company, enables organizations to create, manage, deliver, and optimize their multichannel marketing and business communications. The company operates through Variable Print, Strategic Services, and International segments. It offers commercial and digital print, direct mail, statement printing, logistics, sourcing, and digital and creative services, as well as produces and sells labels, forms, educational testing materials, inserts, and books.

Read More: Why do commodities matter?

Want to see what other hedge funds are holding RRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RR Donnelley & Sons Co (NYSE:RRD).

Institutional Ownership by Quarter for RR Donnelley & Sons (NYSE:RRD)

Receive News & Ratings for RR Donnelley & Sons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RR Donnelley & Sons and related companies with MarketBeat.com's FREE daily email newsletter.