Bank of New York Mellon Corp boosted its position in shares of Libbey Inc. (NYSEMKT:LBY) by 20.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 189,857 shares of the company’s stock after buying an additional 31,642 shares during the period. Bank of New York Mellon Corp owned about 0.87% of Libbey worth $3,018,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LBY. Bank of Montreal Can bought a new position in shares of Libbey during the second quarter worth $171,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Libbey during the first quarter worth $287,000. Albion Financial Group UT raised its position in shares of Libbey by 21.7% in the second quarter. Albion Financial Group UT now owns 25,492 shares of the company’s stock worth $405,000 after buying an additional 4,551 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Libbey by 314.2% in the first quarter. Goldman Sachs Group Inc. now owns 45,869 shares of the company’s stock worth $854,000 after buying an additional 34,794 shares during the last quarter. Finally, Bogle Investment Management L P DE raised its position in shares of Libbey by 103.7% in the first quarter. Bogle Investment Management L P DE now owns 81,391 shares of the company’s stock worth $1,513,000 after buying an additional 41,444 shares during the last quarter.
Libbey Inc. (NYSEMKT:LBY) traded up 3.00% during mid-day trading on Friday, reaching $17.85. 105,046 shares of the company’s stock traded hands. Libbey Inc. has a 12 month low of $14.75 and a 12 month high of $35.75. The stock has a market cap of $389.61 million, a P/E ratio of 6.74 and a beta of 1.25. The company has a 50 day moving average price of $17.47 and a 200-day moving average price of $17.46.
Libbey (NYSEMKT:LBY) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by $0.14. The company had revenue of $207.90 million for the quarter, compared to analyst estimates of $215.26 million. During the same period in the prior year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts anticipate that Libbey Inc. will post $1.30 EPS for the current year.
LBY has been the topic of several analyst reports. TheStreet lowered shares of Libbey from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Cowen and Company lowered shares of Libbey from an “outperform” rating to a “market perform” rating in a research report on Monday, June 13th. Dougherty & Co lowered shares of Libbey from a “buy” rating to a “neutral” rating in a research report on Friday, August 5th. Finally, Zacks Investment Research lowered shares of Libbey from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.67.
In related news, VP Timothy T. Paige sold 3,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $18.03, for a total value of $54,090.00. Following the sale, the vice president now directly owns 21,534 shares in the company, valued at approximately $388,258.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy T. Paige sold 2,293 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $18.57, for a total value of $42,581.01. Following the completion of the sale, the vice president now owns 18,534 shares in the company, valued at $344,176.38. The disclosure for this sale can be found here.
Libbey Company Profile
Libbey Inc is a manufacturer and marketer of glass tableware products. The Company’s segments include U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA), and Other. The U.S. & Canada segment includes the sales of manufactured and sourced glass tableware and sourced ceramic dinnerware, metal tableware, hollowware and serveware having an end market destination in the United States and Canada.
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