State of Alaska Department of Revenue Boosts Stake in LSC Communications Inc (NASDAQ:LKSD)
State of Alaska Department of Revenue boosted its position in LSC Communications Inc (NASDAQ:LKSD) by 85.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,652 shares of the company’s stock after buying an additional 3,062 shares during the period. State of Alaska Department of Revenue’s holdings in LSC Communications were worth $142,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC raised its stake in shares of LSC Communications by 91.7% in the first quarter. Nuveen Asset Management LLC now owns 844,663 shares of the company’s stock worth $21,252,000 after buying an additional 404,126 shares during the last quarter. Bank of Montreal Can raised its stake in shares of LSC Communications by 157.7% in the second quarter. Bank of Montreal Can now owns 82,401 shares of the company’s stock worth $1,763,000 after buying an additional 50,429 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of LSC Communications by 4.3% in the second quarter. Capstone Asset Management Co. now owns 15,953 shares of the company’s stock worth $341,000 after buying an additional 656 shares during the last quarter.
Shares of LSC Communications Inc (NASDAQ LKSD) traded down 0.151% during mid-day trading on Thursday, reaching $16.535. The company had a trading volume of 191,508 shares. The company has a market cap of $576.92 million and a price-to-earnings ratio of 10.871. The firm’s 50-day moving average price is $20.54 and its 200 day moving average price is $23.41. LSC Communications Inc has a 52-week low of $15.08 and a 52-week high of $37.40.
LSC Communications (NASDAQ:LKSD) last released its earnings results on Thursday, August 3rd. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.68 by $0.09. LSC Communications had a return on equity of 7.63% and a net margin of 0.59%. The business had revenue of $848 million for the quarter, compared to analyst estimates of $876.38 million. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts expect that LSC Communications Inc will post $2.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.00 annualized dividend and a yield of 6.04%.
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A number of analysts recently commented on LKSD shares. Bank of America Corporation started coverage on LSC Communications in a research report on Wednesday, May 24th. They issued a “neutral” rating and a $24.00 price objective for the company. Zacks Investment Research upgraded LSC Communications from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Citigroup Inc. started coverage on LSC Communications in a research report on Tuesday, May 30th. They issued a “neutral” rating and a $23.00 price objective for the company. Finally, J P Morgan Chase & Co started coverage on LSC Communications in a research report on Friday, July 21st. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. LSC Communications presently has a consensus rating of “Hold” and an average target price of $24.00.
In other LSC Communications news, Director Shivan S. Subramaniam bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was acquired at an average price of $17.18 per share, with a total value of $85,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
LSC Communications Company Profile
LSC Communications, Inc focuses on traditional and digital print, print-related services and office products. The Company’s segments are Print and Office Products. The Company, through its Print segment, provides a range of print product offerings, which include magazines, catalogs, retail inserts, books and directories.
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