Graham Capital Management L.P. Raises Position in Deluxe Corporation $DLX

Key Points

• Graham Capital Management L.P. increased its stake in Deluxe Corporation by 92.8% in Q1, now owning approximately 0.08% of the company valued at $576,000.
• Deluxe Corporation announced a quarterly dividend of $0.30, representing an annualized dividend of $1.20 and a dividend yield of 6.2%.
• Wall Street analysts have given Deluxe a consensus rating of "Moderate Buy" with an average price target of $23.00.

Graham Capital Management L.P. grew its holdings in shares of Deluxe Corporation (NYSE:DLX - Free Report) by 92.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,464 shares of the business services provider's stock after buying an additional 17,549 shares during the quarter. Graham Capital Management L.P. owned 0.08% of Deluxe worth $576,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Deluxe by 1,067.0% during the first quarter. GAMMA Investing LLC now owns 2,229 shares of the business services provider's stock valued at $35,000 after buying an additional 2,038 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Deluxe by 2.7% during the first quarter. Principal Financial Group Inc. now owns 220,472 shares of the business services provider's stock valued at $3,486,000 after buying an additional 5,782 shares during the last quarter. Nuveen LLC bought a new position in shares of Deluxe during the first quarter valued at approximately $5,281,000. LSV Asset Management boosted its holdings in shares of Deluxe by 1.7% in the first quarter. LSV Asset Management now owns 1,848,739 shares of the business services provider's stock valued at $29,229,000 after purchasing an additional 30,608 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Deluxe by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,188 shares of the business services provider's stock valued at $569,000 after purchasing an additional 835 shares during the period. Institutional investors own 93.90% of the company's stock.

Deluxe Stock Down 0.2%

Deluxe stock traded down $0.04 during trading hours on Monday, reaching $19.49. The stock had a trading volume of 273,559 shares, compared to its average volume of 301,389. The company has a market cap of $874.58 million, a price-to-earnings ratio of 15.10, a PEG ratio of 0.53 and a beta of 1.53. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.94 and a quick ratio of 0.85. The business's 50 day moving average price is $17.82 and its 200-day moving average price is $16.18. Deluxe Corporation has a 52 week low of $13.61 and a 52 week high of $24.45.

Deluxe (NYSE:DLX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The business services provider reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.17. The business had revenue of $521.30 million during the quarter, compared to the consensus estimate of $526.93 million. Deluxe had a net margin of 2.75% and a return on equity of 21.12%. The firm's revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. Sell-side analysts anticipate that Deluxe Corporation will post 2.77 EPS for the current year.

Deluxe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Monday, August 18th. Deluxe's dividend payout ratio is currently 93.02%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DLX shares. Wall Street Zen lowered Deluxe from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Cowen reiterated a "buy" rating on shares of Deluxe in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Deluxe Profile

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.