Libbey Inc. (NYSE:LBY) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Stockholders of record on Tuesday, November 7th will be paid a dividend of 0.1175 per share on Wednesday, November 22nd. This represents a $0.47 annualized dividend and a dividend yield of 4.86%.

Libbey has a payout ratio of 195.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Libbey to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.47 annual dividend with an expected future payout ratio of 37.3%.

Shares of Libbey (LBY) traded up 3.00% during mid-day trading on Tuesday, hitting $9.97. 92,747 shares of the company’s stock traded hands. The firm has a 50-day moving average of $8.95 and a 200 day moving average of $8.88. Libbey has a 52 week low of $7.33 and a 52 week high of $20.76. The company’s market cap is $219.48 million.

Libbey (NYSE:LBY) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. Libbey had a negative net margin of 0.42% and a negative return on equity of 2.32%. The firm had revenue of $197.50 million for the quarter, compared to analysts’ expectations of $198.29 million. During the same quarter last year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities research analysts predict that Libbey will post $0.30 EPS for the current year.

A hedge fund recently raised its stake in Libbey stock. The Manufacturers Life Insurance Company increased its holdings in Libbey Inc. (NYSE:LBY) by 9.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,180 shares of the company’s stock after acquiring an additional 1,712 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of Libbey worth $163,000 as of its most recent SEC filing.

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Separately, Zacks Investment Research cut shares of Libbey from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th.

Libbey Company Profile

Libbey Inc is engaged in the design, production and sale of tableware and other products. The Company’s segments are U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA) and Other. The U.S. & Canada segment includes sales of manufactured and sourced tableware having an end market destination in the United States and Canada, excluding glass products for original equipment manufacturers (OEMs), which remain in the Latin America segment.

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