Insider Selling: John W. Gamble, Jr. Unloads 24,000 Shares of Lexmark International Stock (LXK)
Lexmark International (NYSE:LXK) CFO John W. Gamble, Jr. sold 24,000 shares of the stock on the open market in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $43.35, for a total value of $1,040,400.00. Following the sale, the chief financial officer now directly owns 122,768 shares of the company’s stock, valued at approximately $5,321,993. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Lexmark International (NYSE:LXK) traded down 1.68% during mid-day trading on Tuesday, hitting $42.60. 840,832 shares of the company’s stock traded hands. Lexmark International has a 52-week low of $29.37 and a 52-week high of $47.98. The stock has a 50-day moving average of $44.2 and a 200-day moving average of $39.79. The company has a market cap of $2.652 billion and a P/E ratio of 11.03.
Lexmark International (NYSE:LXK) last released its earnings data on Tuesday, April 22nd. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.05. The company had revenue of $877.70 million for the quarter, compared to the consensus estimate of $855.80 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that Lexmark International will post $3.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, May 28th. This is an increase from Lexmark International’s previous quarterly dividend of $0.30.
LXK has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Lexmark International in a research note on Friday, April 25th. They now have a $44.00 price target on the stock. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Lexmark International in a research note on Wednesday, April 23rd. They now have a $36.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Lexmark International currently has an average rating of “Hold” and a consensus price target of $32.43.
Lexmark International, Inc (NYSE:LXK) is a developer, manufacturer and supplier of printing, imaging, device management, managed print services, document workflow, and also provides business process and content management solutions.
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