Mitsubishi UFJ Asset Management Co. Ltd. Has $356,000 Holdings in Blue Bird Corporation $BLBD

Mitsubishi UFJ Asset Management Co. Ltd. decreased its stake in shares of Blue Bird Corporation (NASDAQ:BLBD) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,242 shares of the company’s stock after selling 995 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Blue Bird were worth $356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Blue Bird by 1.8% during the 1st quarter. Wellington Management Group LLP now owns 1,358,691 shares of the company’s stock worth $43,981,000 after purchasing an additional 23,569 shares in the last quarter. Brookwood Investment Group LLC acquired a new position in shares of Blue Bird during the first quarter worth about $424,000. Alliancebernstein L.P. grew its holdings in shares of Blue Bird by 13.6% during the first quarter. Alliancebernstein L.P. now owns 936,495 shares of the company’s stock worth $30,314,000 after buying an additional 112,197 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Blue Bird by 1,394.9% during the first quarter. American Century Companies Inc. now owns 1,619,494 shares of the company’s stock worth $52,423,000 after buying an additional 1,511,158 shares in the last quarter. Finally, Invst LLC acquired a new stake in Blue Bird in the 1st quarter valued at approximately $438,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Razvan Radulescu sold 6,709 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $57.41, for a total value of $385,163.69. Following the completion of the transaction, the chief financial officer owned 40,794 shares of the company’s stock, valued at approximately $2,341,983.54. This represents a 14.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phil Horlock sold 13,000 shares of Blue Bird stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $59.02, for a total transaction of $767,260.00. Following the sale, the director directly owned 240,766 shares in the company, valued at $14,210,009.32. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,838 shares of company stock worth $2,381,286 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Blue Bird Trading Down 1.4%

Shares of BLBD stock opened at $51.17 on Friday. Blue Bird Corporation has a fifty-two week low of $30.04 and a fifty-two week high of $61.95. The stock’s fifty day moving average price is $55.11 and its two-hundred day moving average price is $48.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.92 and a current ratio of 1.58. The company has a market cap of $1.62 billion, a PE ratio of 14.62, a P/E/G ratio of 1.42 and a beta of 1.62.

Analysts Set New Price Targets

A number of research firms have weighed in on BLBD. Zacks Research downgraded Blue Bird from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. BTIG Research raised their price objective on Blue Bird from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Wall Street Zen raised shares of Blue Bird from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. UBS Group reiterated a “buy” rating on shares of Blue Bird in a research note on Monday, November 3rd. Finally, Needham & Company LLC lifted their price objective on shares of Blue Bird from $53.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Blue Bird presently has an average rating of “Moderate Buy” and a consensus price target of $63.42.

Blue Bird Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.