Libbey Inc. (NYSE:LBY) was the recipient of a large decline in short interest in the month of October. As of October 13th, there was short interest totalling 521,146 shares, a decline of 9.2% from the September 29th total of 573,666 shares. Based on an average daily volume of 81,921 shares, the days-to-cover ratio is currently 6.4 days. Approximately 2.4% of the company’s shares are sold short.

Libbey (LBY) opened at 9.95 on Wednesday. The stock has a 50 day moving average price of $8.97 and a 200-day moving average price of $8.85. The stock’s market cap is $219.04 million. Libbey has a one year low of $7.33 and a one year high of $20.76.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Tuesday, November 7th will be given a $0.1175 dividend. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.72%.

Hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in shares of Libbey in the second quarter valued at approximately $127,000. Voya Investment Management LLC grew its position in shares of Libbey by 18.1% in the second quarter. Voya Investment Management LLC now owns 16,424 shares of the company’s stock valued at $132,000 after purchasing an additional 2,522 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Libbey in the second quarter valued at approximately $159,000. The Manufacturers Life Insurance Company grew its position in shares of Libbey by 9.3% in the second quarter. The Manufacturers Life Insurance Company now owns 20,180 shares of the company’s stock valued at $163,000 after purchasing an additional 1,712 shares in the last quarter. Finally, Thrivent Financial For Lutherans purchased a new stake in shares of Libbey in the second quarter valued at approximately $172,000.

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

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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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