Huntington National Bank trimmed its stake in shares of Lancaster Colony Corp. (NASDAQ:LANC) by 12.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,033 shares of the company’s stock after selling 150 shares during the quarter. Huntington National Bank’s holdings in Lancaster Colony were worth $144,000 at the end of the most recent quarter.
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Other institutional investors and hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new position in Lancaster Colony during the 2nd quarter worth approximately $58,000. Advisory Services Network LLC bought a new position in Lancaster Colony during the 2nd quarter worth approximately $78,000. Tower Research Capital LLC TRC grew its position in Lancaster Colony by 35.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 587 shares of the company’s stock worth $88,000 after acquiring an additional 153 shares during the last quarter. Signaturefd LLC grew its position in Lancaster Colony by 51.6% during the 2nd quarter. Signaturefd LLC now owns 743 shares of the company’s stock worth $110,000 after acquiring an additional 253 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in Lancaster Colony during the 2nd quarter worth approximately $149,000. Institutional investors and hedge funds own 55.13% of the company’s stock.
In other news, Director Neeli Bendapudi sold 1,600 shares of the business’s stock in a transaction on Saturday, September 7th. The stock was sold at an average price of $157.37, for a total value of $251,792.00. Following the completion of the transaction, the director now owns 7,800 shares in the company, valued at $1,227,486. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.70% of the stock is owned by insiders.
Shares of LANC stock traded down $1.22 during trading hours on Friday, reaching $156.43. The company’s stock had a trading volume of 97,400 shares, compared to its average volume of 126,588. Lancaster Colony Corp. has a one year low of $133.77 and a one year high of $194.38. The firm’s fifty day simple moving average is $140.90 and its 200 day simple moving average is $147.04. The company has a current ratio of 2.70, a quick ratio of 2.36 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $4.28 billion, a P/E ratio of 29.67 and a beta of 0.27.
Lancaster Colony (NASDAQ:LANC) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.34. Lancaster Colony had a return on equity of 19.98% and a net margin of 11.46%. The firm had revenue of $337.10 million during the quarter, compared to analysts’ expectations of $333.31 million. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis.
LANC has been the topic of a number of recent analyst reports. BidaskClub lowered Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Sidoti set a $154.00 price objective on Lancaster Colony and gave the stock a “hold” rating in a research report on Wednesday, September 18th. Finally, ValuEngine lowered Lancaster Colony from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.
Lancaster Colony Profile
Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets in the United States. The company operates through two segments, Retail and Foodservice. It offers frozen garlic breads under the New York BRAND Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand name; salad dressings under the Marzetti, Simply Dressed, Simply 60, Cardini's, and Girard's brands; and vegetable dips and fruit dips under the Marzetti brand.
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