Royal Bank of Canada Acquires 158,359 Shares of Libbey Inc. (LBY)
Royal Bank of Canada raised its position in shares of Libbey Inc. (NYSEMKT:LBY) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,511,349 shares of the company’s stock after buying an additional 158,359 shares during the period. Royal Bank of Canada owned about 11.51% of Libbey worth $39,905,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Libbey by 545.3% in the second quarter. BlackRock Inc. now owns 8,673 shares of the company’s stock valued at $138,000 after buying an additional 7,329 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Libbey during the second quarter valued at about $159,000. Bank of Montreal Can purchased a new position in shares of Libbey during the second quarter valued at about $171,000. Acrospire Investment Management LLC boosted its position in shares of Libbey by 1,286.5% in the second quarter. Acrospire Investment Management LLC now owns 11,175 shares of the company’s stock valued at $178,000 after buying an additional 10,369 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Libbey by 2.8% in the second quarter. HighTower Advisors LLC now owns 11,248 shares of the company’s stock valued at $179,000 after buying an additional 311 shares in the last quarter.
Libbey Inc. (NYSEMKT:LBY) traded up 2.44% during midday trading on Friday, hitting $18.04. 66,160 shares of the company traded hands. The stock has a 50 day moving average of $16.92 and a 200 day moving average of $17.17. Libbey Inc. has a 12-month low of $14.75 and a 12-month high of $25.74. The stock has a market cap of $394.05 million, a P/E ratio of 8.95 and a beta of 1.25.
Libbey (NYSEMKT:LBY) last issued its earnings results on Thursday, November 3rd. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The business earned $196.90 million during the quarter, compared to analysts’ expectations of $198.70 million. During the same quarter in the previous year, the company earned $0.75 earnings per share. Libbey’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts predict that Libbey Inc. will post $1.27 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Tuesday, November 8th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Friday, November 4th. Libbey’s dividend payout ratio (DPR) is 17.49%.
Several equities research analysts have commented on LBY shares. Zacks Investment Research lowered shares of Libbey from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 9th. Dougherty & Co lowered shares of Libbey from a “buy” rating to a “neutral” rating in a research report on Friday, August 5th. Finally, TheStreet upgraded shares of Libbey from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $22.67.
Libbey Inc is a manufacturer and marketer of glass tableware products. The Company’s segments include U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA), and Other. The U.S. & Canada segment includes the sales of manufactured and sourced glass tableware and sourced ceramic dinnerware, metal tableware, hollowware and serveware having an end market destination in the United States and Canada.
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