Mason Street Advisors LLC Purchases New Stake in Plantronics Inc. (PLT)
Mason Street Advisors LLC purchased a new position in shares of Plantronics Inc. (NYSE:PLT) during the second quarter, Holdings Channel reports. The firm purchased 15,195 shares of the company’s stock, valued at approximately $669,000.
A number of other large investors also recently added to or reduced their stakes in PLT. UBS Group AG raised its stake in Plantronics by 10.7% in the first quarter. UBS Group AG now owns 76,942 shares of the company’s stock worth $3,015,000 after buying an additional 7,447 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Plantronics during the first quarter worth approximately $466,000. Stadium Capital Management LLC bought a new stake in Plantronics during the first quarter worth approximately $22,445,000. Spark Investment Management LLC bought a new stake in Plantronics during the first quarter worth approximately $811,000. Finally, Palisade Capital Management LLC NJ bought a new stake in Plantronics during the first quarter worth approximately $2,476,000. 90.60% of the stock is owned by institutional investors and hedge funds.
Plantronics Inc. (NYSE:PLT) opened at 51.96 on Monday. Plantronics Inc. has a one year low of $32.13 and a one year high of $55.09. The company’s 50 day moving average price is $50.60 and its 200-day moving average price is $44.77. The stock has a market capitalization of $1.68 billion, a PE ratio of 25.75 and a beta of 1.59.
Plantronics (NYSE:PLT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.06. Plantronics had a return on equity of 24.55% and a net margin of 7.73%. The company earned $223.10 million during the quarter, compared to analysts’ expectations of $216.70 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Plantronics Inc. will post $3.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 17th. This represents a $0.60 dividend on an annualized basis and a yield of 1.15%. Plantronics’s dividend payout ratio is currently 29.70%.
A number of analysts have recently issued reports on PLT shares. TheStreet upgraded Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. set a $55.00 price target on Plantronics and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research upgraded Plantronics from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a research report on Tuesday, August 9th.
In other Plantronics news, Director Brian S. Dexheimer sold 4,000 shares of Plantronics stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $49.97, for a total transaction of $199,880.00. Following the completion of the transaction, the director now owns 18,384 shares in the company, valued at approximately $918,648.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO S Kenneth Kannappan sold 14,946 shares of Plantronics stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $51.00, for a total value of $762,246.00. Following the transaction, the chief executive officer now owns 125,055 shares of the company’s stock, valued at approximately $6,377,805. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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