Punch & Associates Investment Management Inc. Boosts Holdings in Deluxe Co. (NYSE:DLX)

Punch & Associates Investment Management Inc. raised its stake in Deluxe Co. (NYSE:DLX) by 58.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,116 shares of the business services provider’s stock after buying an additional 65,535 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Deluxe were worth $7,787,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of DLX. Alpha Omega Wealth Management LLC grew its position in Deluxe by 129.5% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 771 shares of the business services provider’s stock worth $34,000 after purchasing an additional 435 shares in the last quarter. Truewealth LLC grew its holdings in shares of Deluxe by 281.6% during the 1st quarter. Truewealth LLC now owns 954 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 704 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Deluxe by 61.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,868 shares of the business services provider’s stock valued at $127,000 after acquiring an additional 1,087 shares in the last quarter. Truehand Inc purchased a new position in shares of Deluxe during the 4th quarter valued at $129,000. Finally, Advisor Group Inc. grew its holdings in shares of Deluxe by 182.1% during the 1st quarter. Advisor Group Inc. now owns 3,563 shares of the business services provider’s stock valued at $156,000 after acquiring an additional 2,300 shares in the last quarter. 87.90% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research cut shares of Deluxe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 9th.

Shares of Deluxe stock traded up $0.04 on Friday, hitting $42.19. 2,042 shares of the company traded hands, compared to its average volume of 274,581. The company has a quick ratio of 1.08, a current ratio of 1.21 and a debt-to-equity ratio of 1.05. Deluxe Co. has a 12-month low of $36.11 and a 12-month high of $68.65. The stock has a market cap of $1.81 billion, a P/E ratio of 7.41 and a beta of 1.40.

Deluxe (NYSE:DLX) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.10 by $0.44. Deluxe had a net margin of 6.67% and a return on equity of 27.70%. The business had revenue of $499.10 million for the quarter, compared to analysts’ expectations of $497.17 million. During the same period in the previous year, the company posted $1.60 EPS. Deluxe’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts expect that Deluxe Co. will post 6.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, May 17th. Deluxe’s dividend payout ratio is currently 21.09%.

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Deluxe Profile

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.

Read More: How are institutional investors different from individual investors?

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Institutional Ownership by Quarter for Deluxe (NYSE:DLX)

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