Monotype Imaging Holdings Inc. (NASDAQ:TYPE) announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Shareholders of record on Monday, July 1st will be given a dividend of 0.116 per share by the software maker on Friday, July 19th. This represents a $0.46 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, June 28th.
Monotype Imaging has raised its dividend payment by an average of 6.7% annually over the last three years and has increased its dividend every year for the last 6 years. Monotype Imaging has a payout ratio of 79.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Monotype Imaging to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 42.2%.
NASDAQ TYPE opened at $16.78 on Thursday. The company has a market cap of $701.28 million, a P/E ratio of 22.01 and a beta of 0.99. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $16.66. Monotype Imaging has a fifty-two week low of $15.29 and a fifty-two week high of $22.30.
Several equities analysts have recently weighed in on the company. ValuEngine raised Monotype Imaging from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. TheStreet raised Monotype Imaging from a “c+” rating to a “b-” rating in a research report on Friday, March 8th. BidaskClub raised Monotype Imaging from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. B. Riley reissued a “neutral” rating and set a $17.50 target price (down previously from $26.00) on shares of Monotype Imaging in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. set a $20.00 target price on Monotype Imaging and gave the company a “hold” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.17.
In other Monotype Imaging news, EVP Benjamin W.L. Semmes III sold 8,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.00, for a total value of $168,000.00. Following the transaction, the executive vice president now owns 170,820 shares of the company’s stock, valued at approximately $3,587,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.
About Monotype Imaging
Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company's solutions include type intellectual property (IP), enterprise software for visual content marketing solutions, custom type design services, and tools and technologies through direct sales channels, e-commerce platforms, and partner platforms.
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