Fulton Bank N.A. Grows Position in Primo Water Co. (NYSE:PRMW)

Fulton Bank N.A. lifted its stake in Primo Water Co. (NYSE:PRMW – Get Rating) by 37.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,903 shares of the company’s stock after buying an additional 4,648 shares during the period. Fulton Bank N.A.’s holdings in Primo Water were worth $263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRMW. MetLife Investment Management LLC raised its position in Primo Water by 66.7% during the 1st quarter. MetLife Investment Management LLC now owns 84,056 shares of the company’s stock valued at $1,198,000 after purchasing an additional 33,637 shares in the last quarter. BlackRock Inc. grew its stake in Primo Water by 0.6% during the 1st quarter. BlackRock Inc. now owns 7,991,282 shares of the company’s stock valued at $113,877,000 after purchasing an additional 48,820 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Primo Water by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 978,452 shares of the company’s stock valued at $13,943,000 after purchasing an additional 39,817 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Primo Water by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,471,388 shares of the company’s stock valued at $149,217,000 after buying an additional 280,207 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Primo Water by 374.8% in the 1st quarter. Mackenzie Financial Corp now owns 293,554 shares of the company’s stock valued at $4,186,000 after buying an additional 231,727 shares during the period. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeremy S. G. Fowden sold 47,630 shares of the business’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $16.01, for a total transaction of $762,556.30. Following the completion of the sale, the director now directly owns 1,268,770 shares of the company’s stock, valued at approximately $20,313,007.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeremy S. G. Fowden sold 47,630 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $16.01, for a total value of $762,556.30. Following the sale, the director now owns 1,268,770 shares in the company, valued at approximately $20,313,007.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeremy S. G. Fowden sold 3,760 shares of the stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $16.00, for a total value of $60,160.00. Following the sale, the director now owns 1,268,770 shares in the company, valued at $20,300,320. The disclosure for this sale can be found here. In the last three months, insiders sold 141,853 shares of company stock valued at $2,280,980. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PRMW. CIBC cut Primo Water from a “sector outperform” rating to a “neutral” rating in a report on Friday, February 24th. TheStreet upgraded Primo Water from a “c” rating to a “b-” rating in a research report on Thursday, February 23rd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Primo Water currently has an average rating of “Moderate Buy” and an average target price of $19.33.

Primo Water Price Performance

Shares of PRMW opened at $14.22 on Friday. The stock’s 50 day moving average is $15.45 and its two-hundred day moving average is $14.79. Primo Water Co. has a twelve month low of $12.15 and a twelve month high of $16.47. The company has a current ratio of 0.76, a quick ratio of 0.60 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $2.27 billion, a PE ratio of 74.84 and a beta of 1.05.

Primo Water Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Friday, March 10th will be given a dividend of $0.08 per share. This is an increase from Primo Water’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, March 9th. Primo Water’s payout ratio is currently 168.42%.

About Primo Water

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Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Nursery, Sierra Springs, Sparkletts, Clear Mountain Natural Spring Water, Earth2O, Renü, and Water Event Pure Water Solutions brands in the United States; Canadian Springs and Labrador Source brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.