Vector Group (NYSE:VGR) Sets New 52-Week Low Following Weak Earnings

Vector Group Ltd. (NYSE:VGR) reached a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $9.46 and last traded at $9.60, with a volume of 363724 shares traded. The stock had previously closed at $10.45.

The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The company had revenue of $324.57 million during the quarter, compared to the consensus estimate of $333.30 million. Vector Group had a net margin of 12.89% and a negative return on equity of 24.93%. During the same quarter in the prior year, the business earned $0.22 EPS.

Vector Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date of this dividend was Friday, March 1st. Vector Group’s dividend payout ratio is 68.97%.

Institutional Investors Weigh In On Vector Group

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in Vector Group by 58.4% during the first quarter. BNP Paribas Financial Markets now owns 104,445 shares of the company’s stock worth $1,145,000 after acquiring an additional 38,522 shares during the period. SpiderRock Advisors LLC bought a new stake in shares of Vector Group during the 1st quarter worth $112,000. Prairiewood Capital LLC purchased a new position in shares of Vector Group in the 1st quarter worth about $253,000. Wealthstar Advisors LLC grew its position in Vector Group by 7.5% during the first quarter. Wealthstar Advisors LLC now owns 50,416 shares of the company’s stock valued at $553,000 after buying an additional 3,500 shares during the period. Finally, Denali Advisors LLC increased its holdings in Vector Group by 373.4% during the first quarter. Denali Advisors LLC now owns 121,200 shares of the company’s stock worth $1,328,000 after buying an additional 95,600 shares during the last quarter. 64.09% of the stock is owned by institutional investors.

Vector Group Stock Down 9.4 %

The firm has a market cap of $1.49 billion, a P/E ratio of 8.22 and a beta of 1.06. The firm’s 50-day simple moving average is $10.65 and its 200 day simple moving average is $10.78.

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.