Quarry LP Raises Stake in Deluxe Co. (NYSE:DLX)

Quarry LP lifted its stake in Deluxe Co. (NYSE:DLX) by 2,770.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,314 shares of the business services provider’s stock after purchasing an additional 6,094 shares during the period. Quarry LP’s holdings in Deluxe were worth $123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Deluxe by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,040,327 shares of the business services provider’s stock worth $45,824,000 after acquiring an additional 123,361 shares during the period. Arjuna Capital bought a new position in Deluxe in the third quarter worth approximately $1,490,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Deluxe by 16.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 186,766 shares of the business services provider’s stock worth $3,640,000 after buying an additional 26,473 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in Deluxe by 3.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,907,463 shares of the business services provider’s stock valued at $42,842,000 after purchasing an additional 62,525 shares during the period. Finally, Millennium Management LLC raised its stake in Deluxe by 249.9% in the second quarter. Millennium Management LLC now owns 169,473 shares of the business services provider’s stock worth $3,806,000 after buying an additional 121,042 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Deluxe from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st.

Insider Transactions at Deluxe

In related news, CEO Barry C. Mccarthy acquired 2,820 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $19.08 per share, with a total value of $53,805.60. Following the transaction, the chief executive officer now directly owns 178,670 shares of the company’s stock, valued at $3,409,023.60. This trade represents a 1.60 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders acquired 5,230 shares of company stock valued at $110,068 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Deluxe Trading Down 0.2 %

NYSE:DLX opened at $23.29 on Friday. Deluxe Co. has a 52 week low of $18.26 and a 52 week high of $24.87. The firm has a 50 day moving average of $21.01 and a 200 day moving average of $21.19. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 0.66 and a beta of 1.52.

Deluxe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 5.15%. Deluxe’s dividend payout ratio is presently 96.77%.

About Deluxe

Deluxe Corporation provides technology-enabled solutions to enterprises, small businesses, and financial institutions in the United States, Canada, and Australia. It operates through Merchant Services, B2B Payments, Data Solutions, and Print segments. The Merchant Services offers credit and debit card authorization and payment systems, as well as processing services primarily to small and medium-sized retail and service businesses.