LSV Asset Management lowered its position in shares of Lexmark International Inc. (NYSE:LXK) by 11.7% during the third quarter, Holdings Channel reports. The fund owned 2,581,245 shares of the company’s stock after selling 342,100 shares during the period. LSV Asset Management’s holdings in Lexmark International were worth $103,146,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LXK. IBM Retirement Fund boosted its stake in Lexmark International by 1.4% in the second quarter. IBM Retirement Fund now owns 6,247 shares of the company’s stock worth $236,000 after buying an additional 87 shares during the period. State Treasurer State of Michigan boosted its stake in Lexmark International by 0.4% in the third quarter. State Treasurer State of Michigan now owns 25,200 shares of the company’s stock worth $1,007,000 after buying an additional 100 shares during the period. ProShare Advisors LLC boosted its stake in Lexmark International by 1.4% in the second quarter. ProShare Advisors LLC now owns 7,579 shares of the company’s stock worth $286,000 after buying an additional 104 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in Lexmark International by 1.2% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 10,814 shares of the company’s stock worth $408,000 after buying an additional 127 shares during the period. Finally, Utah Retirement Systems boosted its stake in Lexmark International by 2.8% in the second quarter. Utah Retirement Systems now owns 11,156 shares of the company’s stock worth $422,000 after buying an additional 300 shares during the period. 81.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lexmark International Inc. (NYSE:LXK) opened at 40.49 on Tuesday. The firm’s market capitalization is $2.55 billion. The stock has a 50 day moving average of $39.97 and a 200-day moving average of $37.71. Lexmark International Inc. has a 52 week low of $24.11 and a 52 week high of $40.50.
Lexmark International (NYSE:LXK) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.18. The business had revenue of $844 million for the quarter. Lexmark International had a negative net margin of 1.93% and a positive return on equity of 17.62%. Equities analysts anticipate that Lexmark International Inc. will post $2.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.44 dividend on an annualized basis and a yield of 3.56%. Lexmark International’s payout ratio is -133.33%.
Separately, Zacks Investment Research upgraded shares of Lexmark International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 25th. Five analysts have rated the stock with a hold rating, Lexmark International presently has a consensus rating of “Hold” and an average target price of $35.50.
Lexmark International Company Profile
Lexmark International, Inc is a developer, manufacturer and supplier of printing, imaging, device management, managed print services (MPS), document workflow, and business process and content management solutions. The Company operates through two segments: Imaging Solutions and Services (ISS) and Enterprise Software.