Millburn Ridgefield Corp Invests $70,000 in Federal Signal Co. (NYSE:FSS)

Millburn Ridgefield Corp purchased a new position in shares of Federal Signal Co. (NYSE:FSS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 749 shares of the conglomerate’s stock, valued at approximately $70,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSS. ArrowMark Colorado Holdings LLC bought a new stake in Federal Signal in the 3rd quarter valued at $28,863,000. Assenagon Asset Management S.A. increased its stake in Federal Signal by 113.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock valued at $37,200,000 after buying an additional 211,555 shares during the last quarter. Millennium Management LLC increased its stake in Federal Signal by 77.8% in the 2nd quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate’s stock valued at $37,298,000 after buying an additional 195,017 shares during the last quarter. Driehaus Capital Management LLC increased its stake in Federal Signal by 20.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate’s stock valued at $76,340,000 after buying an additional 153,765 shares during the last quarter. Finally, PineStone Asset Management Inc. acquired a new stake in Federal Signal in the 2nd quarter valued at $11,982,000. 92.73% of the stock is owned by institutional investors.

Federal Signal Stock Performance

Shares of FSS stock opened at $99.78 on Thursday. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 28.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 2.83. The company has a 50-day simple moving average of $91.02 and a 200 day simple moving average of $90.03. Federal Signal Co. has a 52 week low of $69.30 and a 52 week high of $102.18.

Federal Signal (NYSE:FSS) last posted its quarterly earnings data on Thursday, October 31st. The conglomerate reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. The firm had revenue of $474.20 million during the quarter, compared to the consensus estimate of $481.71 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, sell-side analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current year.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, November 15th. Federal Signal’s dividend payout ratio is currently 13.91%.

Analyst Upgrades and Downgrades

Separately, DA Davidson lowered their price objective on shares of Federal Signal from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th.

Federal Signal Company Profile

Federal Signal Corp. engages in the design and manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment is involved in the manufacture and supply of street sweeper vehicles, sewer cleaners, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.