Black Box Corporation (NASDAQ:BBOX) Stake Increased by Prudential Financial Inc.
Prudential Financial Inc. increased its stake in shares of Black Box Corporation (NASDAQ:BBOX) by 7.6% during the first quarter, Holdings Channel reports. The institutional investor owned 78,092 shares of the technology company’s stock after buying an additional 5,517 shares during the period. Prudential Financial Inc.’s holdings in Black Box Corporation were worth $699,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Black Box Corporation by 12.4% in the first quarter. JPMorgan Chase & Co. now owns 914,520 shares of the technology company’s stock valued at $8,185,000 after buying an additional 100,918 shares during the period. Renaissance Technologies LLC increased its position in shares of Black Box Corporation by 10.8% in the fourth quarter. Renaissance Technologies LLC now owns 488,900 shares of the technology company’s stock valued at $7,456,000 after buying an additional 47,700 shares during the period. State Street Corp increased its position in shares of Black Box Corporation by 4.7% in the fourth quarter. State Street Corp now owns 369,852 shares of the technology company’s stock valued at $5,646,000 after buying an additional 16,582 shares during the period. Bank of New York Mellon Corp increased its position in shares of Black Box Corporation by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 299,770 shares of the technology company’s stock valued at $2,682,000 after buying an additional 15,028 shares during the period. Finally, Norges Bank acquired a new position in shares of Black Box Corporation during the fourth quarter valued at approximately $3,124,000. 94.78% of the stock is currently owned by hedge funds and other institutional investors.
Black Box Corporation (BBOX) opened at 8.20 on Tuesday. The firm has a 50-day moving average price of $8.26 and a 200 day moving average price of $10.42. Black Box Corporation has a 12 month low of $7.55 and a 12 month high of $17.05. The company’s market cap is $122.70 million.
Black Box Corporation (NASDAQ:BBOX) last posted its earnings results on Tuesday, May 9th. The technology company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Black Box Corporation had a positive return on equity of 7.74% and a negative net margin of 0.83%. The company had revenue of $208.10 million for the quarter, compared to the consensus estimate of $207.44 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities research analysts predict that Black Box Corporation will post $0.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a $0.12 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.48 dividend on an annualized basis and a yield of 5.85%. Black Box Corporation’s dividend payout ratio is currently -104.35%.
Separately, Sidoti raised Black Box Corporation from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Tuesday, June 27th.
About Black Box Corporation
Black Box Corporation is a technology solutions provider. The Company is engaged in designing, building, managing and securing the information technology (IT) infrastructure. Offerings under the Company’s Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (KVM) switching.
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