Morgan Stanley Sells 19,622 Shares of Mobile Mini, Inc. (MINI)
Morgan Stanley lowered its stake in shares of Mobile Mini, Inc. (NASDAQ:MINI) by 13.7% during the first quarter, Holdings Channel reports. The firm owned 124,097 shares of the industrial products company’s stock after selling 19,622 shares during the period. Morgan Stanley’s holdings in Mobile Mini were worth $3,786,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Mobile Mini during the fourth quarter valued at $7,397,000. Teachers Advisors LLC raised its stake in shares of Mobile Mini by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 71,417 shares of the industrial products company’s stock valued at $2,160,000 after buying an additional 1,910 shares during the period. Bank of Montreal Can raised its stake in shares of Mobile Mini by 3.3% in the first quarter. Bank of Montreal Can now owns 27,624 shares of the industrial products company’s stock valued at $842,000 after buying an additional 872 shares during the period. Atria Investments LLC raised its stake in shares of Mobile Mini by 40.3% in the first quarter. Atria Investments LLC now owns 11,743 shares of the industrial products company’s stock valued at $358,000 after buying an additional 3,373 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in shares of Mobile Mini by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 18,000 shares of the industrial products company’s stock valued at $549,000 after buying an additional 100 shares during the period.
Shares of Mobile Mini, Inc. (MINI) traded up 0.65% during trading on Wednesday, reaching $30.85. 4,870 shares of the company traded hands. The company has a 50-day moving average of $30.28 and a 200-day moving average of $30.16. Mobile Mini, Inc. has a 12 month low of $23.40 and a 12 month high of $37.05. The stock has a market capitalization of $1.36 billion, a PE ratio of 26.80 and a beta of 2.26.
Mobile Mini (NASDAQ:MINI) last announced its quarterly earnings data on Friday, July 21st. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.03 million. Mobile Mini had a return on equity of 7.52% and a net margin of 10.03%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. Analysts forecast that Mobile Mini, Inc. will post $1.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.227 per share. The ex-dividend date is Monday, August 14th. This represents a $0.91 dividend on an annualized basis and a yield of 2.96%. Mobile Mini’s payout ratio is 78.45%.
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Several analysts have recently weighed in on MINI shares. Zacks Investment Research lowered shares of Mobile Mini from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. BidaskClub upgraded shares of Mobile Mini from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Mobile Mini presently has an average rating of “Hold” and a consensus target price of $35.00.
In other Mobile Mini news, CFO Mark Funk sold 3,699 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $31.52, for a total transaction of $116,592.48. Following the sale, the chief financial officer now directly owns 153,260 shares in the company, valued at $4,830,755.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Trachtenberg sold 10,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00. Following the sale, the director now owns 38,181 shares in the company, valued at $1,206,137.79. The disclosure for this sale can be found here. Insiders have sold 156,065 shares of company stock worth $4,832,212 over the last quarter. Corporate insiders own 6.50% of the company’s stock.
Mobile Mini Company Profile
Mobile Mini, Inc is a provider of portable storage solutions. The Company, through its subsidiary, Evergreen Tank Solutions, Inc (ETS), is a provider of specialty containment solutions in the United States. The Company manages its business as two portable storage solutions business segments, North America and the U.K., and one specialty containment business segment.
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