SFE Investment Counsel Decreases Stake in Deluxe Corporation (DLX)

SFE Investment Counsel decreased its stake in Deluxe Corporation (NYSE:DLX) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,745 shares of the business services provider’s stock after selling 2,124 shares during the period. Deluxe Corporation makes up 2.7% of SFE Investment Counsel’s investment portfolio, making the stock its 7th largest position. SFE Investment Counsel owned approximately 0.20% of Deluxe Corporation worth $6,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DLX. BlackRock Inc. increased its position in shares of Deluxe Corporation by 23,073.3% in the first quarter. BlackRock Inc. now owns 5,191,045 shares of the business services provider’s stock valued at $374,639,000 after buying an additional 5,168,644 shares during the period. Vanguard Group Inc. increased its position in shares of Deluxe Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 4,133,898 shares of the business services provider’s stock valued at $298,344,000 after buying an additional 155,227 shares during the period. LSV Asset Management increased its position in shares of Deluxe Corporation by 4.3% in the first quarter. LSV Asset Management now owns 1,900,050 shares of the business services provider’s stock valued at $137,126,000 after buying an additional 78,223 shares during the period. State Street Corp increased its position in shares of Deluxe Corporation by 1.6% in the first quarter. State Street Corp now owns 1,598,176 shares of the business services provider’s stock valued at $115,345,000 after buying an additional 25,359 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Deluxe Corporation by 8.5% in the first quarter. Ameriprise Financial Inc. now owns 773,623 shares of the business services provider’s stock valued at $55,835,000 after buying an additional 60,898 shares during the period. Institutional investors own 92.66% of the company’s stock.

Deluxe Corporation (NYSE:DLX) opened at 69.97 on Tuesday. Deluxe Corporation has a one year low of $59.47 and a one year high of $75.94. The stock’s 50 day moving average is $70.13 and its 200 day moving average is $71.09. The firm has a market capitalization of $3.38 billion, a P/E ratio of 14.97 and a beta of 1.35.

Deluxe Corporation (NYSE:DLX) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. Deluxe Corporation had a net margin of 11.98% and a return on equity of 27.83%. The company had revenue of $485.20 million during the quarter, compared to the consensus estimate of $479.42 million. During the same period in the previous year, the firm posted $1.20 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that Deluxe Corporation will post $5.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, August 17th. Deluxe Corporation’s dividend payout ratio is currently 25.64%.

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Several research analysts have recently issued reports on DLX shares. BidaskClub upgraded shares of Deluxe Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Deluxe Corporation from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Tuesday, May 2nd.

In related news, Director Ronald C. Baldwin sold 2,000 shares of Deluxe Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $72.41, for a total value of $144,820.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John D. Filby sold 18,936 shares of Deluxe Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $72.21, for a total transaction of $1,367,368.56. Following the completion of the transaction, the vice president now owns 46,154 shares in the company, valued at approximately $3,332,780.34. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Deluxe Corporation Company Profile

Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.

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Institutional Ownership by Quarter for Deluxe Corporation (NYSE:DLX)

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