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Cetus Capital II Reports New Position in Luxfer Holdings

Cetus Capital II, LLC has reported opening a position in Luxfer Holdings PLC (ADR) (NYSE:LXFR). In a recent filing with the Securities and Exchange Commission, Cetus Capital revealed the acquisition of 874,133 shares, which represent 6.5% of Luxfer Holdings’s common stock .

Another hedge fund that likes Luxfer Holdings is Marathon Asset Management, run by Bruce J. Richards and Louis Hanover. In the latest 13F filing with the SEC, Marathon also disclosed a new position in Luxfer Holdings. The fund acquired 2.1 million shares with a reported value of $31.7 million. Jonathan Savitz‘s Greywolf Capital Management is also confident in the financial performance of Luxfer, having reported in the most recent 13F filing no change to the fund’s investment in the company. Greywolf Capital holds 1.3 million shares with reportedly worth $21.5 million. Eric Edidin and Josh Lobel‘s Archer Capital Management have also taken their chances and opened a new position. The fund reported owning 751K shares valued at a little over $12 million.

A manufacturer of gas containment cylinders, Luxfer Holdings’ shares have been in an uptrend, rising 42 % in 2013 to a current price of $17.9. The stock has a trailing Price to Earnings (P/E) ratio of 12.82 and pays a dividend of $0.4 per share, which represents a yield of 2.2%. The company recently announced financial results for the third quarter of 2013. Luxfer Holdings registered net revenues of $9.3 million, a 7.9% year over year decline, and earnings per American Depositary Share of $0.33 failing to meet the expected $0.35 per share. Nevertheless, the stock is still highly regarded by analysts, who recommend it mainly as a Strong Buy. The share prices are expected to rise, with experts having set a mean target of $20.25.

Disclosure: none

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