Meredith Co. (NYSE:MDP) shares hit a new 52-week low on Wednesday . The stock traded as low as $11.76 and last traded at $12.00, with a volume of 251325 shares. The stock had previously closed at $13.20.

Separately, ValuEngine raised Meredith from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $39.67.

The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 3.05. The firm has a market cap of $598.47 million, a PE ratio of -25.02 and a beta of 1.11. The stock has a fifty day simple moving average of $25.95 and a two-hundred day simple moving average of $32.49.

Meredith (NYSE:MDP) last released its earnings results on Thursday, February 6th. The company reported $2.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.40. Meredith had a return on equity of 33.80% and a net margin of 1.78%. The company had revenue of $810.50 million during the quarter, compared to the consensus estimate of $792.43 million. During the same quarter in the previous year, the company posted $1.55 EPS. Meredith’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Meredith Co. will post 5.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 28th were paid a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 18.34%. This is a boost from Meredith’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 27th.

In related news, Director Donald C. Berg bought 5,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $27.46 per share, with a total value of $137,300.00. Also, Director Donald C. Berg bought 10,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was bought at an average cost of $30.95 per share, for a total transaction of $309,500.00. Following the completion of the purchase, the director now owns 29,327 shares of the company’s stock, valued at approximately $907,670.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 42,800 shares of company stock worth $1,119,822. 5.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its stake in shares of Meredith by 1.4% in the fourth quarter. Nuveen Asset Management LLC now owns 599,985 shares of the company’s stock worth $19,482,000 after acquiring an additional 8,460 shares during the last quarter. Norges Bank bought a new position in shares of Meredith during the fourth quarter valued at $14,328,000. Geode Capital Management LLC lifted its holdings in shares of Meredith by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 528,121 shares of the company’s stock valued at $17,148,000 after purchasing an additional 16,507 shares in the last quarter. Mason Street Advisors LLC lifted its holdings in shares of Meredith by 1.7% during the fourth quarter. Mason Street Advisors LLC now owns 21,381 shares of the company’s stock valued at $694,000 after purchasing an additional 367 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Meredith by 67.8% in the fourth quarter. Advisors Asset Management Inc. now owns 193,573 shares of the company’s stock valued at $6,285,000 after acquiring an additional 78,246 shares during the period. 92.72% of the stock is currently owned by hedge funds and other institutional investors.

Meredith Company Profile (NYSE:MDP)

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.

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