Bank of New York Mellon Corp Boosts Stake in Blue Bird Corporation (BLBD)
Bank of New York Mellon Corp lifted its position in Blue Bird Corporation (NASDAQ:BLBD) by 12.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,565 shares of the company’s stock after buying an additional 5,187 shares during the period. Bank of New York Mellon Corp owned approximately 0.20% of Blue Bird Corporation worth $809,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Olstein Capital Management L.P. acquired a new position in shares of Blue Bird Corporation in the 2nd quarter worth $1,319,000. Wedge Capital Management L L P NC grew its holdings in shares of Blue Bird Corporation by 26.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 52,432 shares of the company’s stock worth $891,000 after acquiring an additional 11,032 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Blue Bird Corporation in the 2nd quarter worth $367,000. 96.15% of the stock is currently owned by institutional investors.
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Separately, Roth Capital set a $22.00 target price on Blue Bird Corporation and gave the stock a “buy” rating in a report on Monday, August 7th.
In other news, Director Coliseum Capital Management, L sold 742,566 shares of the stock in a transaction on Saturday, September 23rd. The stock was sold at an average price of $18.65, for a total value of $13,848,855.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 16.70% of the company’s stock.
Blue Bird Corporation (BLBD) opened at 21.65 on Thursday. The firm has a market capitalization of $524.64 million, a PE ratio of 24.74 and a beta of 1.80. Blue Bird Corporation has a one year low of $13.85 and a one year high of $21.90. The company has a 50 day moving average price of $19.91 and a 200-day moving average price of $18.43.
Blue Bird Corporation (NASDAQ:BLBD) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.10. The company had revenue of $332.60 million for the quarter, compared to the consensus estimate of $324.13 million. Blue Bird Corporation had a negative return on equity of 19.49% and a net margin of 2.60%. On average, equities analysts predict that Blue Bird Corporation will post $1.17 EPS for the current year.
Blue Bird Corporation announced that its Board of Directors has approved a stock buyback program on Thursday, August 3rd that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 11.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
Blue Bird Corporation Profile
Blue Bird Corporation designs, engineers, manufactures, and sells school buses and aftermarket parts in the United States, Canada, and internationally. It offers Type C, Type D, and specialty buses, as well as Sigma, a bus for public transportation. The company sells its products through a network of dealers, as well as directly to fleet operators, the United States government, and state governments.
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