Tocqueville Asset Management L.P. Reduces Stake in Libbey Inc. (LBY)
Tocqueville Asset Management L.P. cut its position in Libbey Inc. (NYSE:LBY) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,100 shares of the company’s stock after selling 3,000 shares during the period. Tocqueville Asset Management L.P. owned about 0.68% of Libbey worth $1,210,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in Libbey by 4.2% in the second quarter. Russell Investments Group Ltd. now owns 357,555 shares of the company’s stock worth $2,882,000 after buying an additional 14,475 shares during the period. Strs Ohio boosted its position in Libbey by 7.3% in the second quarter. Strs Ohio now owns 33,800 shares of the company’s stock worth $272,000 after buying an additional 2,300 shares in the last quarter. Algert Global LLC purchased a new position in Libbey during the second quarter worth approximately $159,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Libbey by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 88,108 shares of the company’s stock worth $711,000 after buying an additional 513 shares in the last quarter.
Libbey Inc. (NYSE LBY) opened at 8.14 on Monday. The company’s 50 day moving average is $8.13 and its 200-day moving average is $10.76. The stock’s market capitalization is $179.19 million. Libbey Inc. has a 1-year low of $7.33 and a 1-year high of $20.76.
Libbey (NYSE:LBY) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.16. Libbey had a negative net margin of 0.42% and a negative return on equity of 2.32%. The company had revenue of $197.50 million during the quarter, compared to the consensus estimate of $198.29 million. During the same quarter in the prior year, the company posted $0.40 EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. Analysts forecast that Libbey Inc. will post $0.30 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Tuesday, August 8th were paid a dividend of $0.1175 per share. This represents a $0.47 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date was Friday, August 4th.
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Separately, Zacks Investment Research raised shares of Libbey from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th.
In related news, VP Salvador Minarro acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $8.43 per share, with a total value of $84,300.00. Following the purchase, the vice president now directly owns 10,000 shares in the company, valued at approximately $84,300. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Libbey Inc is engaged in the design, production and sale of tableware and other products. The Company’s segments are U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA) and Other. The U.S. & Canada segment includes sales of manufactured and sourced tableware having an end market destination in the United States and Canada, excluding glass products for original equipment manufacturers (OEMs), which remain in the Latin America segment.
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