Anthracite Investment Company Inc. Acquires New Position in Lancaster Colony Co. (NASDAQ:LANC)

Anthracite Investment Company Inc. bought a new position in shares of Lancaster Colony Co. (NASDAQ:LANC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,821 shares of the company’s stock, valued at approximately $1,204,000.

A number of other large investors have also recently modified their holdings of LANC. Consolidated Planning Corp boosted its stake in Lancaster Colony by 4.5% in the second quarter. Consolidated Planning Corp now owns 1,232 shares of the company’s stock valued at $233,000 after buying an additional 53 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Lancaster Colony by 2.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 2,506 shares of the company’s stock valued at $442,000 after purchasing an additional 57 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Lancaster Colony by 1.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,805 shares of the company’s stock valued at $672,000 after purchasing an additional 67 shares during the last quarter. AlphaMark Advisors LLC increased its position in Lancaster Colony by 5.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 1,686 shares of the company’s stock worth $298,000 after purchasing an additional 83 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Lancaster Colony by 0.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 15,179 shares of the company’s stock valued at $2,868,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 66.44% of the company’s stock.

Lancaster Colony Trading Down 0.2 %

Shares of LANC stock opened at $179.62 on Wednesday. Lancaster Colony Co. has a 1-year low of $161.54 and a 1-year high of $215.31. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 31.08 and a beta of 0.35. The stock has a 50-day moving average of $181.06 and a 200-day moving average of $184.82.

Lancaster Colony (NASDAQ:LANC) last released its earnings results on Thursday, October 31st. The company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.08). The firm had revenue of $466.56 million for the quarter, compared to analyst estimates of $468.36 million. Lancaster Colony had a net margin of 8.49% and a return on equity of 19.01%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 EPS. Sell-side analysts forecast that Lancaster Colony Co. will post 6.72 earnings per share for the current year.

Lancaster Colony Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.95 per share. This is an increase from Lancaster Colony’s previous quarterly dividend of $0.90. This represents a $3.80 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, December 5th. Lancaster Colony’s dividend payout ratio (DPR) is presently 62.28%.

Wall Street Analyst Weigh In

LANC has been the topic of a number of research reports. StockNews.com cut shares of Lancaster Colony from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Stephens reaffirmed an “equal weight” rating and issued a $196.00 target price on shares of Lancaster Colony in a report on Tuesday. Loop Capital cut their price target on Lancaster Colony from $232.00 to $227.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Lancaster Colony in a research note on Tuesday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $193.50.

Insider Transactions at Lancaster Colony

In related news, Director Elliot K. Fullen acquired 3,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of $169.00 per share, for a total transaction of $507,000.00. Following the purchase, the director now directly owns 5,298 shares of the company’s stock, valued at $895,362. The trade was a 130.55 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 29.50% of the company’s stock.

Lancaster Colony Profile

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.