Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of LSC Communications Inc (NASDAQ:LKSD) by 0.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 705,744 shares of the company’s stock after buying an additional 2,473 shares during the period. LSC Communications comprises approximately 1.7% of Deroy & Devereaux Private Investment Counsel Inc.’s investment portfolio, making the stock its 21st largest position. Deroy & Devereaux Private Investment Counsel Inc. owned 2.08% of LSC Communications worth $15,103,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in LKSD. Nuveen Asset Management LLC raised its position in LSC Communications by 91.7% in the first quarter. Nuveen Asset Management LLC now owns 844,663 shares of the company’s stock worth $21,252,000 after buying an additional 404,126 shares in the last quarter. Bank of Montreal Can raised its position in LSC Communications by 157.7% in the second quarter. Bank of Montreal Can now owns 82,401 shares of the company’s stock worth $1,763,000 after buying an additional 50,429 shares in the last quarter. Strs Ohio acquired a new position in LSC Communications during the second quarter worth approximately $776,000. Meeder Asset Management Inc. raised its position in shares of LSC Communications by 171.0% in the second quarter. Meeder Asset Management Inc. now owns 22,969 shares of the company’s stock valued at $492,000 after buying an additional 14,494 shares during the period. Finally, Peregrine Capital Management LLC raised its position in shares of LSC Communications by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 403,556 shares of the company’s stock valued at $8,636,000 after buying an additional 8,082 shares during the period.
LSC Communications Inc (LKSD) opened at 16.51 on Friday. The firm has a 50-day moving average price of $20.27 and a 200 day moving average price of $23.29. The firm has a market cap of $576.05 million and a price-to-earnings ratio of 10.85. LSC Communications Inc has a 1-year low of $15.07 and a 1-year high of $37.40.
LSC Communications (NASDAQ:LKSD) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.09. The firm had revenue of $848 million for the quarter, compared to the consensus estimate of $876.38 million. LSC Communications had a net margin of 0.59% and a return on equity of 7.63%. LSC Communications’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts predict that LSC Communications Inc will post $2.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Tuesday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, August 11th.
Several brokerages have recently issued reports on LKSD. J P Morgan Chase & Co began coverage on LSC Communications in a research note on Friday, July 21st. They set a “neutral” rating on the stock. Zacks Investment Research raised LSC Communications from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Citigroup Inc. began coverage on LSC Communications in a research note on Tuesday, May 30th. They set a “neutral” rating and a $23.00 price target on the stock. Finally, Bank of America Corporation began coverage on LSC Communications in a research note on Wednesday, May 24th. They set a “neutral” rating and a $24.00 price target on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $24.00.
In other news, Director Shivan S. Subramaniam purchased 5,000 shares of LSC Communications stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average price of $17.18 per share, with a total value of $85,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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