PNC Financial Services Group Inc. Lowers Position in MTS Systems Corp. (MTSC)
PNC Financial Services Group Inc. lowered its stake in shares of MTS Systems Corp. (NASDAQ:MTSC) by 3.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,493 shares of the company’s stock after selling 383 shares during the period. PNC Financial Services Group Inc. owned 0.08% of MTS Systems Corp. worth $547,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capstone Asset Management Co. boosted its position in shares of MTS Systems Corp. by 9.2% in the second quarter. Capstone Asset Management Co. now owns 5,440 shares of the company’s stock valued at $238,000 after buying an additional 460 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of MTS Systems Corp. by 127.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,463 shares of the company’s stock valued at $239,000 after buying an additional 3,066 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of MTS Systems Corp. by 32.6% in the second quarter. Suntrust Banks Inc. now owns 6,100 shares of the company’s stock valued at $267,000 after buying an additional 1,500 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of MTS Systems Corp. by 12.3% in the second quarter. Louisiana State Employees Retirement System now owns 7,300 shares of the company’s stock valued at $320,000 after buying an additional 800 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of MTS Systems Corp. by 4.1% in the first quarter. Arizona State Retirement System now owns 7,553 shares of the company’s stock valued at $460,000 after buying an additional 300 shares in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.
Shares of MTS Systems Corp. (NASDAQ:MTSC) traded down 1.10% during midday trading on Friday, reaching $45.89. The company had a trading volume of 27,294 shares. The firm has a market cap of $765.17 million, a P/E ratio of 22.29 and a beta of 1.61. MTS Systems Corp. has a 52-week low of $41.68 and a 52-week high of $68.28. The company’s 50-day moving average is $48.13 and its 200-day moving average is $50.03.
MTS Systems Corp. (NASDAQ:MTSC) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.04. MTS Systems Corp. had a return on equity of 12.45% and a net margin of 5.37%. The firm earned $157.70 million during the quarter, compared to the consensus estimate of $146.77 million. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research analysts expect that MTS Systems Corp. will post $2.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be given a $0.30 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.20 annualized dividend and a yield of 2.59%. MTS Systems Corp.’s payout ratio is 58.54%.
MTSC has been the subject of several analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $54.00 target price on shares of MTS Systems Corp. in a report on Wednesday, July 20th. Zacks Investment Research raised MTS Systems Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Wells Fargo & Co. initiated coverage on MTS Systems Corp. in a report on Wednesday, August 17th. They set a “market perform” rating for the company. Finally, Stephens raised MTS Systems Corp. from an “equal weight” rating to an “overweight” rating in a report on Friday, June 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. MTS Systems Corp. presently has an average rating of “Hold” and an average price target of $61.67.
About MTS Systems Corp.
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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