CSS Industries (CSS) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of CSS Industries (NYSE:CSS) from a hold rating to a strong sell rating in a research report released on Friday.

According to Zacks, “CSS Industries, Inc. is a consumer products company primarily engaged in the manufacture and sale to mass market retailers of seasonal, social expression products, including gift wrap, gift bags, boxed greeting cards, gift tags, tissue paper, paper and vinyl decorations, seasonal candles, classroom exchange Valentines, decorative ribbons and bows, Halloween masks, costumes, make-ups and novelties and Easter egg dyes and novelties. CSS provides its retail customers the opportunity to use a single vendor for much of their seasonal product requirements. “

CSS Industries stock traded down $0.35 during midday trading on Friday, reaching $12.55. The stock had a trading volume of 17,109 shares, compared to its average volume of 27,685. CSS Industries has a 12 month low of $12.52 and a 12 month high of $29.34. The stock has a market capitalization of $114.60 million, a P/E ratio of 11.41, a P/E/G ratio of 5.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.60 and a current ratio of 2.43.

CSS Industries (NYSE:CSS) last announced its quarterly earnings data on Thursday, November 8th. The specialty retailer reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.05). CSS Industries had a negative net margin of 14.35% and a negative return on equity of 0.04%. The firm had revenue of $112.90 million during the quarter, compared to the consensus estimate of $113.10 million. Equities research analysts forecast that CSS Industries will post 0.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date of this dividend is Thursday, November 29th. CSS Industries’s dividend payout ratio is currently 72.73%.

In other news, CEO Christopher J. Munyan acquired 2,000 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were acquired at an average cost of $13.85 per share, for a total transaction of $27,700.00. Following the purchase, the chief executive officer now owns 84,208 shares of the company’s stock, valued at approximately $1,166,280.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Alambic Investment Management L.P. purchased a new position in CSS Industries during the 2nd quarter valued at about $299,000. LMR Partners LLP purchased a new position in CSS Industries during the 2nd quarter valued at about $415,000. Marquette Asset Management LLC purchased a new position in CSS Industries during the 2nd quarter valued at about $455,000. Brandes Investment Partners LP grew its holdings in CSS Industries by 10.0% during the 3rd quarter. Brandes Investment Partners LP now owns 45,731 shares of the specialty retailer’s stock valued at $651,000 after buying an additional 4,173 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in CSS Industries by 2,016.3% during the 1st quarter. JPMorgan Chase & Co. now owns 40,738 shares of the specialty retailer’s stock valued at $712,000 after buying an additional 38,813 shares in the last quarter. 73.43% of the stock is owned by institutional investors and hedge funds.

About CSS Industries

CSS Industries, Inc, a consumer products company, designs, manufactures, procures, distributes, and sells seasonal, gift, and craft products principally to mass market retailers in the United States and Canada. Its craft and gift consumer products include craft ribbons and bows, trims, buttons, sewing patterns, knitting needles, needle arts, kids' crafts, infant products, journals, gift card holders, all occasion boxed greeting cards, memory books, scrapbooks, stationery, stickers, and other gift and craft items, as well as floral accessories, including pot covers, foil, waxed tissue, shred, aisle runners, corsage bags, and other paper and film products.

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