OLD National Bancorp IN decreased its stake in shares of Lithia Motors Inc (NYSE:LAD) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,036 shares of the company’s stock after selling 379 shares during the period. OLD National Bancorp IN’s holdings in Lithia Motors were worth $242,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Lithia Motors by 17.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,323,683 shares of the company’s stock valued at $101,036,000 after purchasing an additional 200,381 shares in the last quarter. Boston Partners boosted its position in shares of Lithia Motors by 3.0% during the 1st quarter. Boston Partners now owns 830,398 shares of the company’s stock valued at $77,019,000 after purchasing an additional 23,908 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Lithia Motors by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 498,191 shares of the company’s stock valued at $46,207,000 after purchasing an additional 45,589 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Lithia Motors by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 235,713 shares of the company’s stock valued at $17,991,000 after purchasing an additional 6,663 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Lithia Motors during the 4th quarter valued at about $16,564,000.
In other Lithia Motors news, Director Susan O. Cain sold 723 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $134.78, for a total value of $97,445.94. Following the completion of the transaction, the director now directly owns 11,651 shares in the company, valued at $1,570,321.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sidney B. Deboer sold 15,433 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $114.00, for a total transaction of $1,759,362.00. Following the completion of the transaction, the director now owns 11,144 shares of the company’s stock, valued at $1,270,416. The disclosure for this sale can be found here. Company insiders own 5.21% of the company’s stock.
Shares of LAD traded down $0.21 during midday trading on Thursday, hitting $131.67. The stock had a trading volume of 13,776 shares, compared to its average volume of 288,217. Lithia Motors Inc has a fifty-two week low of $67.90 and a fifty-two week high of $139.18. The stock’s 50-day moving average price is $121.54. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 1.09 and a beta of 1.12. The company has a current ratio of 1.16, a quick ratio of 0.23 and a debt-to-equity ratio of 1.23.
Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, July 24th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.87 by $0.08. Lithia Motors had a net margin of 2.24% and a return on equity of 20.74%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the company posted $2.52 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts anticipate that Lithia Motors Inc will post 11.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, August 8th. Lithia Motors’s payout ratio is 12.02%.
Lithia Motors Profile
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
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