Vector Group Ltd. (NYSE:VGR) Stake Boosted by Quarry LP

Quarry LP increased its stake in Vector Group Ltd. (NYSE:VGR) by 112.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,648 shares of the company’s stock after purchasing an additional 5,110 shares during the period. Quarry LP’s holdings in Vector Group were worth $102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in Vector Group in the second quarter valued at $59,000. ORG Partners LLC boosted its stake in Vector Group by 252.3% during the 2nd quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock valued at $66,000 after purchasing an additional 4,325 shares during the period. Somerset Trust Co bought a new position in Vector Group in the 2nd quarter worth about $110,000. SpiderRock Advisors LLC acquired a new stake in shares of Vector Group in the first quarter valued at approximately $112,000. Finally, Rothschild Investment LLC bought a new stake in shares of Vector Group during the second quarter valued at approximately $116,000. Institutional investors and hedge funds own 64.09% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays raised their target price on Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. StockNews.com initiated coverage on shares of Vector Group in a research note on Wednesday. They set a “buy” rating on the stock.

Vector Group Price Performance

NYSE VGR opened at $14.92 on Wednesday. The firm has a market capitalization of $2.35 billion, a PE ratio of 12.86 and a beta of 1.04. Vector Group Ltd. has a 12 month low of $9.27 and a 12 month high of $15.53. The company’s 50 day simple moving average is $14.27 and its 200 day simple moving average is $11.98.

Vector Group (NYSE:VGR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Vector Group had a negative return on equity of 26.96% and a net margin of 14.05%. The company had revenue of $371.91 million for the quarter, compared to the consensus estimate of $362.90 million. Sell-side analysts anticipate that Vector Group Ltd. will post 1.22 earnings per share for the current fiscal year.

Vector Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 5.36%. Vector Group’s dividend payout ratio (DPR) is 68.97%.

About Vector Group

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20’s, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.