Blue Mountain Capital Increase Stake in Lexmark International Inc (LXK)

Andrew Feldstein and Stephen Siderow have high hopes for Lexmark International Inc (NYSE:LXK). During the third quarter, their fund, Blue Mountain Capital, had increased its stake in the company by 28% to 3.8 million shares. In a recent filing with the Securities and Exchange Commission, Blue Mountain revealed an increase in their position to 5,079,972 shares, which account for 8.2% of the company’s common stock.

Lexmark International Inc (NYSE:LXK)

Cliff Asness and his AQR Capital Management have also been buying Lexmark International Inc (NYSE:LXK) shares. According to the fund’s latest 13F report, AQR holds 679,069 shares valued at $22.4 million. David Cohen and Harold Levy have, on the other hand, been reducing their exposure to this stock. During the third quarter of 2013, Iridian Asset Management reduced its stake by 13% to 2.15 million shares reportedly worth $71 million. David E. Shaw has also been trimming his fund’s holding of Lexmark stock. At the end of Q3, D E Shaw reported a 2% reduction in their holding to 544,619 valued at a little under $18 million.

Lexmark International Inc (NYSE:LXK) is a producer of printers and accessories and has a worldwide market presence. In 2013, the stock has advanced 47% to a current price of $35.08 per share. The company has a market cap of $2.18 billion and pays an annual dividend of $1.2, which represents a yield of 3.30%. Shares change hands at a Price to Earnings (P/E) ratio of 14.33 and have a beta of 1.51.

For the third quarter of 2013, Lexmark reported revenues of $782 million, a 5.66% year-over-year decrease, and Earnings Per Share (EPS) of $0.45. Analysts expect the company to register revenues of $927 million and earnings of $1.09 per share during the current quarter.

Disclosure: none

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