Luxfer (NYSE:LXFR) Sees Unusually-High Trading Volume After Dividend Announcement

Shares of Luxfer Holdings PLC (NYSE:LXFR) saw strong trading volume on Tuesday after the company announced a dividend. 6,999 shares changed hands during trading, a decline of 93% from the previous session’s volume of 107,107 shares.The stock last traded at $21.47 and had previously closed at $20.86.

The newly announced dividend which will be paid on Wednesday, May 5th. Shareholders of record on Friday, April 16th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, April 15th. Luxfer’s payout ratio is currently 38.46%.

A number of brokerages have issued reports on LXFR. B. Riley boosted their price objective on shares of Luxfer from $19.00 to $24.50 and gave the company a “buy” rating in a research report on Thursday, February 25th. Roth Capital boosted their price objective on shares of Luxfer from $22.50 to $30.00 and gave the company a “buy” rating in a research report on Monday, March 22nd. Finally, Zacks Investment Research downgraded shares of Luxfer from a “hold” rating to a “sell” rating in a research report on Tuesday, March 23rd.

The stock’s 50-day moving average price is $20.34 and its two-hundred day moving average price is $16.55. The stock has a market capitalization of $573.72 million, a PE ratio of 56.11, a P/E/G ratio of 1.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.81 and a current ratio of 1.72.

Luxfer (NYSE:LXFR) last released its earnings results on Wednesday, February 24th. The industrial products company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.05. The firm had revenue of $82.10 million for the quarter, compared to the consensus estimate of $89.35 million. Luxfer had a net margin of 2.74% and a return on equity of 13.81%. Luxfer’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts predict that Luxfer Holdings PLC will post 0.85 earnings per share for the current fiscal year.

In related news, insider James Gardella sold 20,614 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $21.35, for a total value of $440,108.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.46% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Luxfer by 181.4% in the 4th quarter. JPMorgan Chase & Co. now owns 84,159 shares of the industrial products company’s stock worth $1,382,000 after purchasing an additional 54,252 shares in the last quarter. Robecosam AG boosted its stake in Luxfer by 13.2% in the 4th quarter. Robecosam AG now owns 600,000 shares of the industrial products company’s stock worth $9,852,000 after purchasing an additional 70,000 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Luxfer by 15.8% during the 4th quarter. Nuveen Asset Management LLC now owns 169,309 shares of the industrial products company’s stock valued at $2,780,000 after acquiring an additional 23,039 shares during the period. Essex Investment Management Co. LLC lifted its stake in Luxfer by 2.0% during the 4th quarter. Essex Investment Management Co. LLC now owns 111,133 shares of the industrial products company’s stock valued at $1,825,000 after acquiring an additional 2,187 shares during the period. Finally, Credit Suisse AG lifted its stake in Luxfer by 16.2% during the 4th quarter. Credit Suisse AG now owns 25,098 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 3,499 shares during the period. Institutional investors own 91.93% of the company’s stock.

Luxfer Company Profile (NYSE:LXFR)

Luxfer Holdings PLC, a materials technology company, designs, manufactures, and supplies high-performance materials, components, and high-pressure gas cylinders for transportation, defense and emergency response, healthcare, and general industrial end-market applications. It operates in two segments, Gas Cylinders and Elektron.

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