News (NASDAQ:NWS) Reaches New 1-Year High After Dividend Announcement

News Co. (NASDAQ:NWSGet Free Report)’s share price reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The stock traded as high as $28.92 and last traded at $27.18, with a volume of 239696 shares changing hands. The stock had previously closed at $25.30.

The newly announced dividend which will be paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a yield of 0.7%. News’s payout ratio is currently 50.00%.

News Stock Up 0.7 %

The company has a market capitalization of $15.57 billion, a price-to-earnings ratio of 68.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.18. The firm’s 50-day simple moving average is $25.01 and its two-hundred day simple moving average is $22.67.

News (NASDAQ:NWSGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter. News had a net margin of 2.29% and a return on equity of 4.14%. The company had revenue of $2.50 billion for the quarter.

Institutional Trading of News

Several institutional investors and hedge funds have recently modified their holdings of NWS. Glenmede Trust Co. NA purchased a new stake in shares of News in the third quarter valued at about $25,000. Headlands Technologies LLC purchased a new position in shares of News during the fourth quarter valued at approximately $27,000. Captrust Financial Advisors lifted its stake in shares of News by 40.6% during the second quarter. Captrust Financial Advisors now owns 2,378 shares of the company’s stock valued at $38,000 after buying an additional 687 shares during the period. Desjardins Global Asset Management Inc. lifted its stake in shares of News by 138.5% during the second quarter. Desjardins Global Asset Management Inc. now owns 1,975 shares of the company’s stock valued at $39,000 after buying an additional 1,147 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in shares of News during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 13.46% of the company’s stock.

About News

(Get Free Report)

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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