Rhumbline Advisers boosted its position in shares of Quad/Graphics, Inc. (NYSE:QUAD) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,817 shares of the business services provider’s stock after buying an additional 3,245 shares during the period. Rhumbline Advisers’ holdings in Quad/Graphics were worth $704,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of QUAD. Engineers Gate Manager LP purchased a new stake in shares of Quad/Graphics in the second quarter valued at approximately $329,000. Robeco Institutional Asset Management B.V. grew its position in shares of Quad/Graphics by 6.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 575,542 shares of the business services provider’s stock valued at $11,989,000 after purchasing an additional 33,387 shares in the last quarter. IndexIQ Advisors LLC grew its position in shares of Quad/Graphics by 11.3% in the second quarter. IndexIQ Advisors LLC now owns 86,289 shares of the business services provider’s stock valued at $1,797,000 after purchasing an additional 8,787 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Quad/Graphics by 51.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 284,198 shares of the business services provider’s stock valued at $5,920,000 after purchasing an additional 96,475 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Quad/Graphics in the second quarter valued at approximately $637,000. Institutional investors own 54.71% of the company’s stock.
QUAD opened at $21.38 on Thursday. Quad/Graphics, Inc. has a one year low of $17.73 and a one year high of $31.29. The company has a market capitalization of $1.10 billion, a P/E ratio of 11.47 and a beta of 1.14. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.83 and a current ratio of 1.24.
Quad/Graphics (NYSE:QUAD) last released its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. Quad/Graphics had a return on equity of 18.66% and a net margin of 1.95%. The firm had revenue of $1.02 billion for the quarter. analysts anticipate that Quad/Graphics, Inc. will post 1.89 EPS for the current year.
Quad/Graphics declared that its board has approved a share repurchase program on Tuesday, July 31st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 9.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Monday, August 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend was Friday, August 17th. Quad/Graphics’s dividend payout ratio is presently 66.67%.
In other Quad/Graphics news, Director John C. Fowler sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $24.01, for a total transaction of $240,100.00. Following the transaction, the director now directly owns 109,645 shares in the company, valued at $2,632,576.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jennifer J. Kent sold 9,143 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $21.83, for a total value of $199,591.69. Following the transaction, the executive vice president now owns 125,084 shares in the company, valued at $2,730,583.72. The disclosure for this sale can be found here. Corporate insiders own 7.70% of the company’s stock.
A number of equities research analysts have recently issued reports on QUAD shares. Zacks Investment Research upgraded Quad/Graphics from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Wednesday, August 22nd. Buckingham Research started coverage on Quad/Graphics in a research report on Monday, June 18th. They issued a “buy” rating and a $28.00 price target for the company. TheStreet upgraded Quad/Graphics from a “c” rating to a “b-” rating in a research report on Wednesday, August 1st. ValuEngine upgraded Quad/Graphics from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Sanford C. Bernstein lowered Quad/Graphics from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Quad/Graphics presently has a consensus rating of “Hold” and a consensus target price of $27.50.
Quad/Graphics Company Profile
Quad/Graphics, Inc provides print and marketing services in the United States, Europe, Latin America, and internationally. It operates through United States Print and Related Services, and International segments. The company offers printing services, including retail inserts, publications, catalogs, special interest publications, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, other commercial and specialty printed products; and paper procurement services.
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