Luxfer (NYSE:LXFR) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Luxfer (NYSE:LXFR) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Several other research firms have also commented on LXFR. Freedom Capital raised shares of Luxfer to a “strong-buy” rating in a report on Thursday, May 21st. Wall Street Zen lowered shares of Luxfer from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Luxfer in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Luxfer currently has an average rating of “Moderate Buy”.

Luxfer Stock Performance

LXFR opened at $18.02 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.75. Luxfer has a 52-week low of $11.19 and a 52-week high of $19.45. The firm has a market cap of $486.86 million, a P/E ratio of 81.94, a price-to-earnings-growth ratio of 2.36 and a beta of 1.13. The business’s fifty day moving average is $16.39 and its 200-day moving average is $14.68.

Luxfer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Friday, April 17th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.9%. Luxfer’s dividend payout ratio is 236.36%.

Insider Buying and Selling

In related news, Director Patrick K. Mullen sold 5,323 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $15.05, for a total value of $80,111.15. Following the completion of the transaction, the director owned 42,145 shares of the company’s stock, valued at $634,282.25. This represents a 11.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sylvia Ann Stein sold 4,010 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $15.05, for a total transaction of $60,350.50. Following the completion of the sale, the director owned 14,844 shares in the company, valued at $223,402.20. This represents a 21.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,368 shares of company stock worth $321,588 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Luxfer

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of Luxfer by 1.9% in the first quarter. AQR Capital Management LLC now owns 257,371 shares of the industrial products company’s stock valued at $3,052,000 after buying an additional 4,772 shares during the period. Jane Street Group LLC grew its holdings in Luxfer by 115.0% during the 1st quarter. Jane Street Group LLC now owns 46,689 shares of the industrial products company’s stock worth $554,000 after acquiring an additional 24,969 shares during the last quarter. Franklin Resources Inc. increased its position in Luxfer by 20.5% in the 2nd quarter. Franklin Resources Inc. now owns 19,199 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 3,268 shares during the period. Marshall Wace LLP increased its position in Luxfer by 0.9% in the 2nd quarter. Marshall Wace LLP now owns 172,736 shares of the industrial products company’s stock valued at $2,104,000 after acquiring an additional 1,570 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Luxfer by 58.9% during the second quarter. Qube Research & Technologies Ltd now owns 133,343 shares of the industrial products company’s stock valued at $1,624,000 after acquiring an additional 49,419 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Luxfer Company Profile

Luxfer Gas Cylinders, trading as Luxfer (NYSE: LXFR), is a global manufacturer specializing in high-performance, lightweight gas cylinders. The company produces both aluminium and composite cylinders designed to store and transport high-pressure gases for industrial, medical, diving, firefighting and defense applications. Its portfolio includes seamless aluminium cylinders, wrapped composite cylinders and pressure vessel components tailored to meet stringent safety and performance standards.

Founded on more than a century of materials expertise originating from the Luxfer Graphic Magnesium Company established in 1898, Luxfer has evolved into a leader in cylinder innovation.