MTS Systems Corp. (MTSC) Sees Large Volume Increase
MTS Systems Corp. (NASDAQ:MTSC) shares saw unusually-strong trading volume on Monday . Approximately 162,528 shares traded hands during trading, an increase of 16% from the previous session’s volume of 139,760 shares.The stock last traded at $47.93 and had previously closed at $47.43.
A number of research analysts have commented on MTSC shares. Zacks Investment Research cut MTS Systems Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Wunderlich decreased their price target on MTS Systems Corp. from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, May 11th. TheStreet cut MTS Systems Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Stephens upgraded MTS Systems Corp. from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 17th. Finally, JPMorgan Chase & Co. started coverage on MTS Systems Corp. in a research note on Thursday, June 23rd. They set an “overweight” rating and a $54.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.67.
The company has a market cap of $705.34 million and a price-to-earnings ratio of 20.70. The firm has a 50 day moving average price of $45.07 and a 200-day moving average price of $51.32.
MTS Systems Corp. (NASDAQ:MTSC) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.43. During the same period last year, the business posted $0.77 earnings per share. The firm had revenue of $137 million for the quarter, compared to analyst estimates of $144 million. MTS Systems Corp.’s quarterly revenue was down 4.8% on a year-over-year basis. On average, equities research analysts forecast that MTS Systems Corp. will post $2.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.51%.
In other MTS Systems Corp. news, Director Chun Hung Yu acquired 2,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The stock was acquired at an average cost of $47.44 per share, with a total value of $94,880.00. Following the purchase, the director now directly owns 11,345 shares in the company, valued at approximately $538,206.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
A number of hedge funds have recently added to or reduced their stakes in the company. Dean Investment Associates LLC boosted its stake in MTS Systems Corp. by 27.9% in the fourth quarter. Dean Investment Associates LLC now owns 45,450 shares of the company’s stock valued at $2,882,000 after buying an additional 9,925 shares during the last quarter. US Bancorp DE boosted its stake in MTS Systems Corp. by 0.3% in the fourth quarter. US Bancorp DE now owns 19,491 shares of the company’s stock valued at $1,236,000 after buying an additional 61 shares during the last quarter. Schroder Investment Management Group purchased a new stake in MTS Systems Corp. during the fourth quarter valued at approximately $12,663,000. Principal Financial Group Inc. boosted its stake in MTS Systems Corp. by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 192,454 shares of the company’s stock valued at $12,204,000 after buying an additional 4,179 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in MTS Systems Corp. by 1.5% in the fourth quarter. California Public Employees Retirement System now owns 34,900 shares of the company’s stock valued at $2,213,000 after buying an additional 500 shares during the last quarter.
MTS Systems Corporation (MTS) is a global supplier of test systems and position sensors. The Company’s operations are organized and managed in two business segments: the Test segment and the Sensors. Testing segment’s testing hardware, software and services solutions help customers improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures.
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