BlueMountain Capital Management LLC Grows Holdings in Signet Jewelers Ltd. (SIG)
BlueMountain Capital Management LLC raised its stake in Signet Jewelers Ltd. (NYSE:SIG) by 353.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 156,504 shares of the company’s stock after buying an additional 121,992 shares during the period. BlueMountain Capital Management LLC’s holdings in Signet Jewelers were worth $8,725,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in Signet Jewelers in the 2nd quarter valued at about $112,000. Itau Unibanco Holding S.A. purchased a new stake in Signet Jewelers in the 2nd quarter valued at about $132,000. Trilogy Capital Inc. purchased a new stake in Signet Jewelers in the 1st quarter valued at about $121,000. St. Johns Investment Management Company LLC purchased a new stake in Signet Jewelers in the 2nd quarter valued at about $193,000. Finally, MUFG Securities EMEA plc purchased a new stake in Signet Jewelers in the 2nd quarter valued at about $206,000. 93.60% of the stock is owned by institutional investors.
NYSE:SIG opened at $63.18 on Wednesday. Signet Jewelers Ltd. has a one year low of $33.11 and a one year high of $77.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.69 and a quick ratio of 0.47. The stock has a market capitalization of $3.80 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.92 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be issued a $0.37 dividend. The ex-dividend date is Thursday, November 1st. This represents a $1.48 annualized dividend and a dividend yield of 2.34%. Signet Jewelers’s dividend payout ratio is currently 22.73%.
SIG has been the subject of several research reports. ValuEngine raised shares of Signet Jewelers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 6th. Telsey Advisory Group boosted their price objective on shares of Signet Jewelers from $114.00 to $125.00 and gave the company a “market perform” rating in a research report on Friday, June 1st. Zacks Investment Research raised shares of Signet Jewelers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 22nd. Wells Fargo & Co restated a “hold” rating on shares of Signet Jewelers in a report on Wednesday, June 6th. Finally, Royal Bank of Canada set a $51.00 price target on shares of Signet Jewelers and gave the company a “hold” rating in a report on Monday, June 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $55.21.
About Signet Jewelers
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands, as well as JamesAllen.com, an online jewelry retailer Website.
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