State Board of Administration of Florida Retirement System Has $248,000 Stake in MTS Systems Corp. (MTSC)
State Board of Administration of Florida Retirement System lowered its position in MTS Systems Corp. (NASDAQ:MTSC) by 8.5% during the second quarter, Holdings Channel reports. The institutional investor owned 5,656 shares of the company’s stock after selling 528 shares during the period. State Board of Administration of Florida Retirement System’s holdings in MTS Systems Corp. were worth $248,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MTSC. Confluence Investment Management LLC raised 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 worth $11,517,000 after buying an additional 230,999 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in MTS Systems Corp. during the second quarter worth approximately $6,551,000. Monashee Investment Management LLC acquired a new stake in MTS Systems Corp. during the second quarter worth approximately $6,357,000. Bank of Montreal Can acquired a new stake in MTS Systems Corp. during the second quarter worth approximately $1,448,000. Finally, Emerald Acquisition Ltd. acquired a new stake in MTS Systems Corp. during the second quarter worth approximately $1,003,000. 96.96% of the stock is owned by hedge funds and other institutional investors.
MTS Systems Corp. (NASDAQ:MTSC) last issued its quarterly earnings results 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. The company had revenue of $157.70 million for the quarter, compared to the consensus estimate of $146.77 million. MTS Systems Corp. had a return on equity of 12.45% and a net margin of 5.37%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Thursday, September 15th. MTS Systems Corp.’s dividend payout ratio is currently 58.54%.
A number of equities analysts have recently weighed in on MTSC shares. JPMorgan Chase & Co. reissued a “buy” rating and set a $54.00 price target on shares of MTS Systems Corp. in a research report on Wednesday, July 20th. Wells Fargo & Co. started coverage on shares of MTS Systems Corp. in a research report on Wednesday, August 17th. They set a “market perform” rating on the stock. Sidoti raised shares of MTS Systems Corp. from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Thursday. Finally, Zacks Investment Research cut shares of MTS Systems Corp. from a “hold” rating to a “strong sell” rating in a research report on Friday, August 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $60.00.
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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