Vector Group (NYSE:VGR) Sets New 52-Week Low on Disappointing Earnings

Vector Group Ltd. (NYSE:VGR) shares hit a new 52-week low during trading on Thursday following a weaker than expected 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 the consensus estimate of $0.25 by ($0.01). Vector Group had a net margin of 12.98% and a negative return on equity of 25.62%. The company had revenue of $324.57 million for the quarter, compared to analysts’ expectations of $333.30 million. During the same quarter in the previous year, the company posted $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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 8.15%. The ex-dividend date was Friday, March 1st. Vector Group’s payout ratio is currently 68.97%.

Institutional Investors Weigh In On Vector Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC purchased a new position in Vector Group during the 1st quarter valued at $190,000. BNP Paribas Financial Markets boosted its stake in shares of Vector Group by 58.4% during the first quarter. BNP Paribas Financial Markets now owns 104,445 shares of the company’s stock valued at $1,145,000 after purchasing an additional 38,522 shares during the period. SpiderRock Advisors LLC bought a new position in shares of Vector Group in the first quarter worth about $112,000. Prairiewood Capital LLC purchased a new position in Vector Group in the 1st quarter worth about $253,000. Finally, Wealthstar Advisors LLC lifted its holdings in Vector Group by 7.5% during the 1st 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 in the last quarter. 64.09% of the stock is currently owned by hedge funds and other institutional investors.

Vector Group Trading Up 4.7 %

The company has a market capitalization of $1.54 billion, a PE ratio of 8.37 and a beta of 1.06. The firm’s 50-day simple moving average is $10.62 and its 200-day simple moving average is $10.77.

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.