Bank of New York Mellon Corp grew its position in shares of LSC Communications Inc (NASDAQ:LKSD) by 12.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,129,140 shares of the company’s stock after purchasing an additional 121,904 shares during the quarter. Bank of New York Mellon Corp owned approximately 3.33% of LSC Communications worth $24,164,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of LSC Communications during the 2nd quarter valued at about $138,000. Rhumbline Advisers increased its position in shares of LSC Communications by 18.8% during the 2nd quarter. Rhumbline Advisers now owns 66,750 shares of the company’s stock valued at $1,428,000 after purchasing an additional 10,573 shares during the last quarter. Arizona State Retirement System increased its position in shares of LSC Communications by 30.2% during the 2nd quarter. Arizona State Retirement System now owns 17,662 shares of the company’s stock valued at $378,000 after purchasing an additional 4,100 shares during the last quarter. Foundry Partners LLC increased its position in shares of LSC Communications by 11.3% during the 2nd quarter. Foundry Partners LLC now owns 99,926 shares of the company’s stock valued at $2,138,000 after purchasing an additional 10,124 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of LSC Communications by 127.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 231,396 shares of the company’s stock valued at $4,952,000 after purchasing an additional 129,773 shares during the last quarter.
LSC Communications Inc (NASDAQ:LKSD) opened at 16.44 on Friday. LSC Communications Inc has a 52-week low of $16.12 and a 52-week high of $37.40. The company’s 50-day moving average price is $16.65 and its 200 day moving average price is $22.90. The company has a market capitalization of $573.61 million and a price-to-earnings ratio of 10.81.
LSC Communications (NASDAQ:LKSD) last issued its quarterly earnings data 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). LSC Communications had a return on equity of 7.63% and a net margin of 0.59%. The company had revenue of $848.00 million for the quarter, compared to the consensus estimate of $876.38 million. LSC Communications’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect that LSC Communications Inc will post $2.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.00 annualized dividend and a yield of 6.08%.
In related news, Director Shivan S. Subramaniam acquired 3,500 shares of LSC Communications stock in a transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several brokerages have recently commented on LKSD. J P Morgan Chase & Co began coverage on LSC Communications in a research report on Friday, July 21st. They set a “neutral” rating on the stock. Zacks Investment Research upgraded LSC Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Citigroup Inc. initiated coverage on LSC Communications in a research report on Tuesday, May 30th. They set a “neutral” rating and a $23.00 price objective on the stock. Finally, Bank of America Corporation initiated coverage on LSC Communications in a research report on Wednesday, May 24th. They set a “neutral” rating and a $24.00 price target on the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $24.00.
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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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