Luxfer (NYSE:LXFR) Issues Earnings Results, Beats Expectations By $0.01 EPS

Luxfer (NYSE:LXFR) posted its earnings results on Tuesday. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01, FiscalAI reports. Luxfer had a net margin of 1.56% and a return on equity of 12.14%. The firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $90.30 million.

Luxfer Trading Down 0.1%

LXFR stock traded down $0.02 on Wednesday, hitting $17.03. 546,079 shares of the company were exchanged, compared to its average volume of 187,162. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 0.81. The stock has a market capitalization of $459.91 million, a price-to-earnings ratio of 77.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. Luxfer has a twelve month low of $11.19 and a twelve month high of $19.45. The business’s fifty day moving average is $17.40 and its two-hundred day moving average is $15.13.

Luxfer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Friday, July 17th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $0.52 annualized dividend and a yield of 3.1%. Luxfer’s dividend payout ratio is 236.36%.

Insider Buying and Selling

In other news, Director Sylvia Ann Stein sold 4,010 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $15.05, for a total transaction of $60,350.50. Following the completion of the sale, the director directly owned 14,844 shares of the company’s stock, valued at $223,402.20. The trade was a 21.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Hipple sold 4,010 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $15.05, for a total value of $60,350.50. Following the completion of the transaction, the director directly owned 32,920 shares in the company, valued at $495,446. This trade represents a 10.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,368 shares of company stock worth $321,588 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Luxfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of Luxfer by 1.9% in the 1st quarter. AQR Capital Management LLC now owns 257,371 shares of the industrial products company’s stock valued at $3,052,000 after purchasing an additional 4,772 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Luxfer by 115.0% during the 1st quarter. Jane Street Group LLC now owns 46,689 shares of the industrial products company’s stock worth $554,000 after purchasing an additional 24,969 shares during the period. Franklin Resources Inc. increased its position in Luxfer by 20.5% during the 2nd quarter. Franklin Resources Inc. now owns 19,199 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 3,268 shares in the last quarter. Marshall Wace LLP increased its position in Luxfer by 0.9% during the 2nd quarter. Marshall Wace LLP now owns 172,736 shares of the industrial products company’s stock worth $2,104,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Luxfer by 58.9% in the second quarter. Qube Research & Technologies Ltd now owns 133,343 shares of the industrial products company’s stock valued at $1,624,000 after buying an additional 49,419 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LXFR shares. Freedom Capital upgraded Luxfer to a “strong-buy” rating in a report on Thursday, May 21st. Zacks Research lowered Luxfer from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Luxfer in a research report on Thursday, June 18th. Finally, Wall Street Zen lowered shares of Luxfer from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 31st. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Luxfer presently has a consensus rating of “Moderate Buy”.

About Luxfer

Luxfer Gas Cylinders, trading as Luxfer (NYSE: LXFR), is a global manufacturer specializing in high-performance, lightweight gas cylinders. The company produces both aluminium and composite cylinders designed to store and transport high-pressure gases for industrial, medical, diving, firefighting and defense applications. Its portfolio includes seamless aluminium cylinders, wrapped composite cylinders and pressure vessel components tailored to meet stringent safety and performance standards.

Founded on more than a century of materials expertise originating from the Luxfer Graphic Magnesium Company established in 1898, Luxfer has evolved into a leader in cylinder innovation.