Solas Capital Management LLC Sells 521,604 Shares of Vestis Co. (NYSE:VSTS)

Solas Capital Management LLC decreased its position in Vestis Co. (NYSE:VSTS - Free Report) by 92.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,386 shares of the company's stock after selling 521,604 shares during the quarter. Vestis makes up approximately 0.4% of Solas Capital Management LLC's portfolio, making the stock its 19th largest holding. Solas Capital Management LLC's holdings in Vestis were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Spire Wealth Management bought a new position in Vestis during the fourth quarter worth about $29,000. Smartleaf Asset Management LLC increased its holdings in shares of Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock valued at $38,000 after purchasing an additional 2,123 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock worth $71,000 after acquiring an additional 710 shares during the last quarter. Quantbot Technologies LP acquired a new position in Vestis during the 4th quarter valued at about $93,000. Finally, Sterling Capital Management LLC boosted its stake in Vestis by 45.9% in the fourth quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock valued at $120,000 after acquiring an additional 2,479 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Vestis Trading Down 0.2 %

Shares of VSTS stock traded down $0.02 on Thursday, hitting $8.74. The company had a trading volume of 267,961 shares, compared to its average volume of 2,312,693. The stock's 50-day moving average is $9.71 and its two-hundred day moving average is $13.24. Vestis Co. has a twelve month low of $7.35 and a twelve month high of $18.95. The firm has a market cap of $1.15 billion, a P/E ratio of 109.26 and a beta of 1.55. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter last year, the firm earned $0.22 EPS. On average, equities research analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Friday, February 21st. Vestis's dividend payout ratio (DPR) is presently 175.00%.

Wall Street Analyst Weigh In

VSTS has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Barclays lowered their price objective on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating on the stock in a report on Friday, April 4th. Finally, Robert W. Baird decreased their price target on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Vestis currently has an average rating of "Hold" and a consensus price target of $13.08.

Vestis Company Profile

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.