MTS Systems Corp. (MTSC) Sees Large Volume Increase
MTS Systems Corp. (NASDAQ:MTSC) saw an uptick in trading volume on Thursday . 221,438 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 199,655 shares.The stock last traded at $50.14 and had previously closed at $49.75.
A number of research firms recently issued reports on MTSC. Zacks Investment Research upgraded MTS Systems Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Wunderlich decreased their target price on MTS Systems Corp. from $80.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, May 11th. JPMorgan Chase & Co. began coverage on MTS Systems Corp. in a report on Thursday, June 23rd. They issued an “overweight” rating and a $54.00 target price for the company. Stephens upgraded MTS Systems Corp. from an “equal weight” rating to an “overweight” rating in a report on Friday, June 17th. Finally, Wells Fargo & Co. began coverage on MTS Systems Corp. in a report on Wednesday, August 17th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. MTS Systems Corp. has a consensus rating of “Hold” and a consensus target price of $61.67.
The firm has a market capitalization of $833.87 million and a P/E ratio of 24.29. The stock has a 50 day moving average price of $47.96 and a 200 day moving average price of $50.84.
MTS Systems Corp. (NASDAQ:MTSC) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $157.70 million for the quarter, compared to analysts’ expectations of $146.77 million. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. On average, analysts predict that MTS Systems Corp. will post $2.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, September 15th.
An institutional investor recently raised its position in MTS Systems Corp. stock. Principal Financial Group Inc. raised its position in MTS Systems Corp. (NASDAQ:MTSC) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,454 shares of the company’s stock after buying an additional 4,179 shares during the period. Principal Financial Group Inc. owned approximately 1.30% of MTS Systems Corp. worth $12,204,000 at the end of the most recent 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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