Brandywine Global Investment Management LLC Sells 6,849 Shares of Deluxe Corporation (DLX)
Brandywine Global Investment Management LLC reduced its position in Deluxe Corporation (NYSE:DLX) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,570 shares of the business services provider’s stock after selling 6,849 shares during the quarter. Brandywine Global Investment Management LLC owned 0.43% of Deluxe Corporation worth $14,507,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in DLX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Deluxe Corporation by 64.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,136 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 836 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of Deluxe Corporation by 56.6% in the second quarter. Riverhead Capital Management LLC now owns 2,663 shares of the business services provider’s stock valued at $184,000 after acquiring an additional 963 shares in the last quarter. World Asset Management Inc raised its holdings in shares of Deluxe Corporation by 1.2% in the second quarter. World Asset Management Inc now owns 3,027 shares of the business services provider’s stock valued at $210,000 after acquiring an additional 37 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Deluxe Corporation by 2,985.9% in the first quarter. Tower Research Capital LLC TRC now owns 3,055 shares of the business services provider’s stock valued at $220,000 after acquiring an additional 2,956 shares in the last quarter. Finally, Bowling Portfolio Management LLC bought a new stake in shares of Deluxe Corporation in the second quarter valued at about $220,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.
Deluxe Corporation (NYSE DLX) opened at 72.96 on Friday. The company has a market capitalization of $3.53 billion, a P/E ratio of 15.61 and a beta of 1.36. Deluxe Corporation has a one year low of $59.47 and a one year high of $75.94. The firm has a 50-day moving average of $68.91 and a 200-day moving average of $70.08.
Deluxe Corporation (NYSE:DLX) last announced its earnings results on Thursday, July 27th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. Deluxe Corporation had a return on equity of 27.83% and a net margin of 11.98%. The company had revenue of $485.20 million during the quarter, compared to analysts’ expectations of $479.42 million. During the same period last year, the business posted $1.20 EPS. Deluxe Corporation’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts anticipate that Deluxe Corporation will post $5.25 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, August 17th. Deluxe Corporation’s dividend payout ratio (DPR) is 25.64%.
Separately, BidaskClub upgraded Deluxe Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th.
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In related news, VP John D. Filby sold 18,936 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $72.21, for a total transaction of $1,367,368.56. Following the completion of the transaction, the vice president now directly owns 46,154 shares in the company, valued at approximately $3,332,780.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald C. Baldwin sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $72.41, for a total value of $144,820.00. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
About Deluxe Corporation
Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.
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