Meritage Portfolio Management Has $6.47 Million Stake in Deluxe Co. (DLX)

Meritage Portfolio Management reduced its stake in Deluxe Co. (NYSE:DLX) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 113,584 shares of the business services provider’s stock after selling 1,058 shares during the quarter. Meritage Portfolio Management’s holdings in Deluxe were worth $6,467,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Personal Resources Investment & Strategic Management Inc. bought a new position in Deluxe in the 3rd quarter valued at approximately $1,212,000. Cubic Asset Management LLC lifted its position in Deluxe by 6.6% in the 3rd quarter. Cubic Asset Management LLC now owns 20,885 shares of the business services provider’s stock valued at $1,189,000 after acquiring an additional 1,300 shares in the last quarter. First Trust Advisors LP lifted its position in Deluxe by 28.2% in the 3rd quarter. First Trust Advisors LP now owns 48,151 shares of the business services provider’s stock valued at $2,742,000 after acquiring an additional 10,582 shares in the last quarter. Retirement Systems of Alabama lifted its position in Deluxe by 18.8% in the 3rd quarter. Retirement Systems of Alabama now owns 151,978 shares of the business services provider’s stock valued at $8,654,000 after acquiring an additional 24,046 shares in the last quarter. Finally, First Quadrant L P CA lifted its position in Deluxe by 8.0% in the 3rd quarter. First Quadrant L P CA now owns 26,953 shares of the business services provider’s stock valued at $1,535,000 after acquiring an additional 1,985 shares in the last quarter. 93.08% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on DLX shares. TheStreet cut Deluxe from a “b-” rating to a “c+” rating in a research report on Tuesday, August 21st. Buckingham Research lowered their price objective on Deluxe from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, October 26th.

DLX stock opened at $48.60 on Wednesday. The company has a market capitalization of $2.06 billion, a P/E ratio of 9.22 and a beta of 0.90. Deluxe Co. has a 12-month low of $43.72 and a 12-month high of $78.87. The company has a current ratio of 1.25, a quick ratio of 1.04 and a debt-to-equity ratio of 0.93.

Deluxe (NYSE:DLX) last released its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. The business had revenue of $493.20 million for the quarter. Deluxe had a return on equity of 26.00% and a net margin of 9.00%. As a group, analysts forecast that Deluxe Co. will post 5.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.20 annualized dividend and a yield of 2.47%. Deluxe’s dividend payout ratio (DPR) is presently 22.77%.

About Deluxe

Deluxe Corporation provides checks, forms, marketing solutions, accessories, and other products and services for small businesses and financial institutions. It operates through three segments: Small Business Services, Financial Services, and Direct Checks. The company provides checks; printed forms, such as deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices, and personnel forms, as well as computer forms and check registers; and accessories and other products comprising envelopes, office supplies, ink stamps, and labels, as well as checkbook covers.

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Institutional Ownership by Quarter for Deluxe (NYSE:DLX)

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