SG Americas Securities LLC grew its stake in Quad/Graphics, Inc. (NYSE:QUAD) by 48.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,265 shares of the business services provider’s stock after buying an additional 3,019 shares during the period. SG Americas Securities LLC’s holdings in Quad/Graphics were worth $193,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of QUAD. Strs Ohio boosted its stake in Quad/Graphics by 23.8% during the 2nd quarter. Strs Ohio now owns 39,600 shares of the business services provider’s stock worth $824,000 after purchasing an additional 7,600 shares during the period. Bank of New York Mellon Corp boosted its stake in Quad/Graphics by 16.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 619,104 shares of the business services provider’s stock worth $12,896,000 after purchasing an additional 87,938 shares during the period. Mackay Shields LLC boosted its stake in Quad/Graphics by 71.3% during the 2nd quarter. Mackay Shields LLC now owns 220,707 shares of the business services provider’s stock worth $4,597,000 after purchasing an additional 91,873 shares during the period. Rhumbline Advisers boosted its stake in Quad/Graphics by 10.6% during the 2nd quarter. Rhumbline Advisers now owns 33,817 shares of the business services provider’s stock worth $704,000 after purchasing an additional 3,245 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in Quad/Graphics during the 2nd quarter worth $329,000. Institutional investors and hedge funds own 54.70% of the company’s stock.
Shares of Quad/Graphics stock opened at $21.04 on Friday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 11.92 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.24 and a debt-to-equity ratio of 2.00. Quad/Graphics, Inc. has a one year low of $17.73 and a one year high of $31.29.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Monday, August 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 17th. This represents a $1.20 dividend on an annualized basis and a yield of 5.70%. Quad/Graphics’s payout ratio is currently 66.67%.
Quad/Graphics declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 31st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the business services provider to reacquire up to 9.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of analysts recently weighed in on QUAD shares. Sanford C. Bernstein cut shares of Quad/Graphics from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 23rd. Zacks Investment Research upgraded shares of Quad/Graphics from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research note on Wednesday, August 22nd. TheStreet upgraded shares of Quad/Graphics from a “c” rating to a “b-” rating in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Quad/Graphics from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Buckingham Research assumed coverage on shares of Quad/Graphics in a research note on Monday, June 18th. They set a “buy” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.50.
In other Quad/Graphics news, Director John C. Fowler sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $24.01, for a total transaction of $240,100.00. Following the completion of the transaction, the director now owns 109,645 shares in the company, valued at approximately $2,632,576.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer J. Kent sold 9,143 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $21.83, for a total transaction of $199,591.69. Following the transaction, the executive vice president now owns 125,084 shares of the company’s stock, valued at approximately $2,730,583.72. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by corporate insiders.
Quad/Graphics, Inc provides print and marketing services in the United States, Europe, Latin America, and internationally. It operates through United States Print and Related Services, and International segments. The company offers printing services, including retail inserts, publications, catalogs, special interest publications, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, other commercial and specialty printed products; and paper procurement services.
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