Principal Financial Group Inc. lessened its position in Monotype Imaging Holdings Inc. (NASDAQ:TYPE) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 357,487 shares of the software maker’s stock after selling 5,431 shares during the quarter. Principal Financial Group Inc.’s holdings in Monotype Imaging were worth $5,548,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in shares of Monotype Imaging by 198.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 86,386 shares of the software maker’s stock valued at $1,745,000 after buying an additional 57,455 shares during the period. Legal & General Group Plc raised its holdings in shares of Monotype Imaging by 7.9% in the 3rd quarter. Legal & General Group Plc now owns 100,222 shares of the software maker’s stock valued at $2,021,000 after buying an additional 7,305 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Monotype Imaging by 18.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 189,223 shares of the software maker’s stock valued at $3,822,000 after buying an additional 29,463 shares during the period. Texas Permanent School Fund raised its holdings in shares of Monotype Imaging by 2.6% in the 4th quarter. Texas Permanent School Fund now owns 27,185 shares of the software maker’s stock valued at $422,000 after buying an additional 693 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Monotype Imaging by 8.7% in the 4th quarter. Prudential Financial Inc. now owns 241,538 shares of the software maker’s stock valued at $3,749,000 after buying an additional 19,298 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.
Shares of NASDAQ TYPE opened at $20.18 on Friday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.23. Monotype Imaging Holdings Inc. has a 1-year low of $15.29 and a 1-year high of $24.60. The stock has a market cap of $839.73 million, a price-to-earnings ratio of 25.87 and a beta of 1.09.
Monotype Imaging (NASDAQ:TYPE) last issued its quarterly earnings results on Friday, February 15th. The software maker reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.22. Monotype Imaging had a return on equity of 9.70% and a net margin of 4.89%. The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $65.15 million. During the same quarter in the prior year, the business earned $0.51 EPS. Monotype Imaging’s revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that Monotype Imaging Holdings Inc. will post 0.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.116 per share. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.46 annualized dividend and a yield of 2.30%. Monotype Imaging’s dividend payout ratio (DPR) is 58.97%.
Several equities research analysts have weighed in on the company. ValuEngine upgraded Monotype Imaging from a “sell” rating to a “hold” rating in a report on Monday, April 1st. TheStreet upgraded Monotype Imaging from a “c+” rating to a “b-” rating in a report on Friday, March 8th. BidaskClub upgraded Monotype Imaging from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Finally, Zacks Investment Research downgraded Monotype Imaging from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Monotype Imaging has an average rating of “Hold” and an average target price of $25.50.
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About Monotype Imaging
Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, the United Kingdom, Germany, Japan, and rest of Asia. The company offers font products, including its own fonts from the Monotype Libraries, as well as fonts from third parties through its e-commerce Websites, including myfonts.com, fonts.com, fontshop.com, and linotype.com.
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