Bank of New York Mellon Corp increased its holdings in shares of Viad Corp (NYSE:VVI) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 270,317 shares of the business services provider’s stock after buying an additional 1,355 shares during the period. Bank of New York Mellon Corp owned about 1.32% of Viad worth $14,665,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in VVI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Viad in the 2nd quarter valued at $235,000. Xact Kapitalforvaltning AB purchased a new position in shares of Viad in the 1st quarter valued at $312,000. Barclays PLC grew its position in shares of Viad by 38.0% in the 1st quarter. Barclays PLC now owns 6,241 shares of the business services provider’s stock valued at $327,000 after buying an additional 1,719 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Viad in the 2nd quarter valued at $473,000. Finally, Dean Capital Investments Management LLC acquired a new stake in Viad during the 2nd quarter worth $535,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. ValuEngine cut shares of Viad from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Northcoast Research reiterated a “neutral” rating on shares of Viad in a research note on Friday, July 27th.
NYSE:VVI traded down $0.61 during trading hours on Friday, reaching $53.39. 80,677 shares of the company’s stock were exchanged, compared to its average volume of 84,472. Viad Corp has a 1-year low of $49.20 and a 1-year high of $62.50. The stock has a market cap of $1.20 billion, a P/E ratio of 20.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.64 and a quick ratio of 0.59.
Viad (NYSE:VVI) last released its earnings results on Thursday, July 26th. The business services provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.09. Viad had a net margin of 2.95% and a return on equity of 8.20%. The company had revenue of $363.70 million during the quarter, compared to analysts’ expectations of $360.75 million. During the same quarter last year, the business earned $1.22 EPS. The business’s revenue was down .3% on a year-over-year basis. Sell-side analysts expect that Viad Corp will post 2.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, September 6th. Viad’s dividend payout ratio (DPR) is presently 15.27%.
Viad Company Profile
Viad Corp operates as an experiential services company in the United States, Canada, the United Kingdom, continental Europe, and the United Arab Emirates. The company operates in two business groups, GES and Pursuit. It offers event planning and production, look and feel design, layout and floor plan designs, furnishings and carpet, show traffic analysis, marketing and strategy, electrical distribution, cleaning, plumbing, overhead and booth rigging, and material handling services; and signage products and common area structures.
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