California State Teachers Retirement System decreased its stake in shares of Libbey Inc. (NYSEMKT:LBY) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,032 shares of the company’s stock after selling 252 shares during the period. California State Teachers Retirement System owned about 0.21% of Libbey worth $731,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can bought a new stake in Libbey during the second quarter valued at $171,000. Jacobs Levy Equity Management Inc. bought a new stake in Libbey during the first quarter valued at $287,000. Albion Financial Group UT raised its stake in Libbey by 21.7% in the second quarter. Albion Financial Group UT now owns 25,492 shares of the company’s stock valued at $405,000 after buying an additional 4,551 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Libbey by 314.2% in the first quarter. Goldman Sachs Group Inc. now owns 45,869 shares of the company’s stock valued at $854,000 after buying an additional 34,794 shares in the last quarter. Finally, Bogle Investment Management L P DE raised its stake in Libbey by 103.7% in the first quarter. Bogle Investment Management L P DE now owns 81,391 shares of the company’s stock valued at $1,513,000 after buying an additional 41,444 shares in the last quarter.
Shares of Libbey Inc. (NYSEMKT:LBY) traded down 2.41% during midday trading on Monday, reaching $17.42. 25,224 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $17.47 and a 200 day moving average price of $17.46. Libbey Inc. has a 12 month low of $14.75 and a 12 month high of $35.75. The firm has a market cap of $380.23 million, a PE ratio of 6.57 and a beta of 1.25.
Libbey (NYSEMKT:LBY) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.54 by $0.14. The firm had revenue of $207.90 million for the quarter, compared to analysts’ expectations of $215.26 million. During the same quarter in the prior year, the company earned $0.77 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts predict that Libbey Inc. will post $1.30 earnings per share for the current year.
A number of research firms recently commented on LBY. TheStreet lowered Libbey from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Cowen and Company downgraded Libbey from an “outperform” rating to a “market perform” rating in a report on Monday, June 13th. Dougherty & Co downgraded Libbey from a “buy” rating to a “neutral” rating in a report on Friday, August 5th. Finally, Zacks Investment Research downgraded Libbey from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $22.67.
In other Libbey news, VP Timothy T. Paige sold 2,551 shares of the company’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $17.50, for a total value of $44,642.50. Following the completion of the sale, the vice president now directly owns 23,178 shares of the company’s stock, valued at approximately $405,615. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy T. Paige sold 3,000 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $18.03, for a total transaction of $54,090.00. Following the completion of the sale, the vice president now directly owns 21,534 shares of the company’s stock, valued at $388,258.02. 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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