Fort L.P. increased its stake in Deluxe Co. (NYSE:DLX) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 163,438 shares of the business services provider’s stock after acquiring an additional 5,290 shares during the quarter. Deluxe makes up about 2.6% of Fort L.P.’s portfolio, making the stock its 16th biggest holding. Fort L.P. owned 0.34% of Deluxe worth $10,821,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of DLX. Wells Fargo & Company MN boosted its stake in Deluxe by 9.4% during the 1st quarter. Wells Fargo & Company MN now owns 762,317 shares of the business services provider’s stock worth $56,420,000 after purchasing an additional 65,386 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Deluxe by 812.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 42,900 shares of the business services provider’s stock worth $3,161,000 after purchasing an additional 38,200 shares during the last quarter. Prudential Financial Inc. boosted its stake in Deluxe by 23.9% during the 1st quarter. Prudential Financial Inc. now owns 281,403 shares of the business services provider’s stock worth $20,826,000 after purchasing an additional 54,250 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Deluxe by 26.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,007 shares of the business services provider’s stock worth $1,629,000 after purchasing an additional 4,589 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Deluxe by 2.2% during the 1st quarter. Swiss National Bank now owns 84,200 shares of the business services provider’s stock worth $6,232,000 after purchasing an additional 1,800 shares during the last quarter. 93.06% of the stock is owned by institutional investors.
Shares of DLX opened at $59.27 on Friday. Deluxe Co. has a 52-week low of $57.06 and a 52-week high of $78.87. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.04 and a current ratio of 1.16. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 11.25 and a beta of 0.91.
Deluxe (NYSE:DLX) last announced its earnings results on Thursday, July 26th. The business services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. The company had revenue of $488.20 million for the quarter, compared to analysts’ expectations of $493.65 million. Deluxe had a net margin of 12.01% and a return on equity of 26.05%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 EPS. analysts forecast that Deluxe Co. will post 5.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Monday, August 20th were given a dividend of $0.30 per share. The ex-dividend date was Friday, August 17th. This represents a $1.20 annualized dividend and a dividend yield of 2.02%. Deluxe’s payout ratio is 22.77%.
Separately, TheStreet cut shares of Deluxe from a “b-” rating to a “c+” rating in a research note on Tuesday, August 21st.
In other news, CEO Lee J. Schram sold 6,500 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $68.08, for a total transaction of $442,520.00. Following the transaction, the chief executive officer now owns 272,817 shares of the company’s stock, valued at approximately $18,573,381.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Lee J. Schram sold 691 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $68.12, for a total transaction of $47,070.92. Following the transaction, the chief executive officer now directly owns 268,181 shares in the company, valued at approximately $18,268,489.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,500 shares of company stock worth $919,045. Corporate insiders own 2.40% of the company’s stock.
Deluxe Company Profile
Deluxe Corporation provides checks, forms, marketing solutions, accessories, and other products and services for small businesses and financial institutions. It operates through three segments: Small Business Services, Financial Services, and Direct Checks. The company provides checks; printed forms, such as deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices, and personnel forms, as well as computer forms and check registers; and accessories and other products comprising envelopes, office supplies, ink stamps, and labels, as well as checkbook covers.
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