MTS Systems Corp. (MTSC) Position Cut by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lowered its position in shares of MTS Systems Corp. (NASDAQ:MTSC) by 45.5% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,977 shares of the company’s stock after selling 2,486 shares during the period. BNP Paribas Arbitrage SA’s holdings in MTS Systems Corp. were worth $137,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Levin Capital Strategies L.P. purchased a new stake in MTS Systems Corp. during the second quarter valued at approximately $30,934,000. Fuller & Thaler Asset Management Inc. boosted its stake in MTS Systems Corp. by 39.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,266,533 shares of the company’s stock valued at $55,525,000 after buying an additional 361,528 shares during the period. Loews Corp purchased a new stake in MTS Systems Corp. during the second quarter valued at approximately $12,056,000. Confluence Investment Management LLC boosted its stake in MTS Systems Corp. by 728.6% in the second quarter. Confluence Investment Management LLC now owns 262,705 shares of the company’s stock valued at $11,517,000 after buying an additional 230,999 shares during the period. Finally, Vanguard Group Inc. boosted its stake in MTS Systems Corp. by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,303,099 shares of the company’s stock valued at $57,128,000 after buying an additional 151,440 shares during the period. 96.99% of the stock is owned by hedge funds and other institutional investors.
MTS Systems Corp. (NASDAQ:MTSC) opened at 42.49 on Wednesday. The stock has a 50 day moving average price of $47.01 and a 200 day moving average price of $48.83. The company has a market capitalization of $708.48 million, a price-to-earnings ratio of 20.64 and a beta of 1.60. MTS Systems Corp. has a 52-week low of $41.68 and a 52-week high of $68.28.
MTS Systems Corp. (NASDAQ:MTSC) last released its earnings results on Monday, August 8th. The company reported $0.78 earnings per share for the quarter, topping the 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 analysts’ expectations of $146.77 million. During the same period in the prior year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts anticipate that MTS Systems Corp. will post $2.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, September 15th. MTS Systems Corp.’s payout ratio is presently 58.54%.
MTSC has been the subject of several research reports. JPMorgan Chase & Co. reissued a “buy” rating and issued a $54.00 target price on shares of MTS Systems Corp. in a research note on Wednesday, July 20th. Wells Fargo & Co. initiated coverage on MTS Systems Corp. in a research note on Wednesday, August 17th. They issued a “market perform” rating for the company. Zacks Investment Research cut MTS Systems Corp. from a “hold” rating to a “strong sell” rating in a research note on Friday, August 12th. Finally, Stephens raised MTS Systems Corp. from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $61.67.
MTS Systems Corp. Company Profile
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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