Anchor Bolt Capital LP Takes $68.14 Million Position in Delta Air Lines, Inc. (DAL)

Anchor Bolt Capital LP acquired a new position in shares of Delta Air Lines, Inc. (NYSE:DAL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,413,132 shares of the transportation company’s stock, valued at approximately $68,141,000. Delta Air Lines comprises 2.8% of Anchor Bolt Capital LP’s investment portfolio, making the stock its 8th largest holding. Anchor Bolt Capital LP owned 0.20% of Delta Air Lines at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Roundview Capital LLC boosted its holdings in shares of Delta Air Lines by 0.3% during the 2nd quarter. Roundview Capital LLC now owns 5,115 shares of the transportation company’s stock worth $275,000 after buying an additional 15 shares during the period. Traynor Capital Management Inc. boosted its holdings in shares of Delta Air Lines by 1.2% during the 2nd quarter. Traynor Capital Management Inc. now owns 4,911 shares of the transportation company’s stock worth $246,000 after buying an additional 58 shares during the period. MUFG Securities EMEA plc boosted its holdings in shares of Delta Air Lines by 1.2% during the 2nd quarter. MUFG Securities EMEA plc now owns 5,307 shares of the transportation company’s stock worth $285,000 after buying an additional 65 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Delta Air Lines by 3.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after buying an additional 75 shares during the period. Finally, Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Delta Air Lines by 0.3% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 44,398 shares of the transportation company’s stock worth $2,386,000 after buying an additional 125 shares during the period. Institutional investors own 85.24% of the company’s stock.

Several brokerages recently commented on DAL. Imperial Capital raised shares of Delta Air Lines from an “in-line” rating to an “outperform” rating and set a $63.00 target price for the company in a report on Thursday, October 12th. Cowen lifted their target price on shares of Delta Air Lines from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. Vetr downgraded shares of Delta Air Lines from a “sell” rating to a “strong sell” rating and set a $45.16 target price for the company. in a report on Wednesday, November 29th. ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $57.00 price objective (up previously from $56.00) on shares of Delta Air Lines in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $63.39.

In related news, EVP Peter W. Carter sold 19,809 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $50.42, for a total transaction of $998,769.78. Following the completion of the transaction, the executive vice president now directly owns 67,077 shares in the company, valued at approximately $3,382,022.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total transaction of $8,449,274.40. The disclosure for this sale can be found here. Insiders sold a total of 239,810 shares of company stock valued at $12,684,903 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Shares of Delta Air Lines, Inc. (NYSE:DAL) traded down $0.09 during trading hours on Thursday, hitting $52.30. 4,190,300 shares of the stock traded hands, compared to its average volume of 7,782,691. The firm has a market cap of $37,352.66, a PE ratio of 10.91, a PEG ratio of 1.59 and a beta of 1.29. The company has a quick ratio of 0.36, a current ratio of 0.43 and a debt-to-equity ratio of 0.54. Delta Air Lines, Inc. has a one year low of $43.81 and a one year high of $55.75.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.53 by $0.04. The company had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.70 EPS. sell-side analysts forecast that Delta Air Lines, Inc. will post 5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, November 16th. Delta Air Lines’s payout ratio is presently 24.50%.

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About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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