Comerica Bank trimmed its position in shares of MTS Systems Co. (NASDAQ:MTSC) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,461 shares of the scientific and technical instruments company’s stock after selling 3,685 shares during the period. Comerica Bank’s holdings in MTS Systems were worth $1,256,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of MTS Systems by 9.6% during the 3rd quarter. Victory Capital Management Inc. now owns 22,606 shares of the scientific and technical instruments company’s stock worth $1,238,000 after acquiring an additional 1,975 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of MTS Systems during the 3rd quarter worth approximately $387,000. Confluence Investment Management LLC raised its stake in shares of MTS Systems by 4.7% during the 3rd quarter. Confluence Investment Management LLC now owns 424,811 shares of the scientific and technical instruments company’s stock worth $23,259,000 after acquiring an additional 18,934 shares in the last quarter. Northern Trust Corp raised its stake in shares of MTS Systems by 5.1% during the 2nd quarter. Northern Trust Corp now owns 303,378 shares of the scientific and technical instruments company’s stock worth $15,972,000 after acquiring an additional 14,623 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of MTS Systems by 31.9% during the 2nd quarter. California Public Employees Retirement System now owns 50,115 shares of the scientific and technical instruments company’s stock worth $2,639,000 after acquiring an additional 12,118 shares in the last quarter. Hedge funds and other institutional investors own 97.10% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of MTS Systems from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. BidaskClub upgraded shares of MTS Systems from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Finally, ValuEngine lowered shares of MTS Systems from a “buy” rating to a “hold” rating in a research note on Monday, October 29th.
Shares of MTS Systems stock opened at $48.23 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.21 and a debt-to-equity ratio of 0.74. MTS Systems Co. has a 12-month low of $42.00 and a 12-month high of $57.00. The company has a market cap of $872.06 million, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.88 and a beta of 1.01.
MTS Systems (NASDAQ:MTSC) last issued its quarterly earnings results on Monday, November 26th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.08). MTS Systems had a net margin of 7.88% and a return on equity of 8.06%. The company had revenue of $198.00 million for the quarter, compared to analyst estimates of $202.72 million. During the same quarter in the previous year, the company posted $0.44 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts forecast that MTS Systems Co. will post 2.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.49%. MTS Systems’s payout ratio is 36.59%.
In related news, insider Jeffrey A. Graves purchased 2,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were acquired at an average price of $45.98 per share, for a total transaction of $91,960.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael V. Schrock acquired 9,400 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was acquired at an average cost of $50.11 per share, for a total transaction of $471,034.00. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.
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MTS Systems Profile
MTS Systems Corporation supplies test systems and sensors in the Americas, Europe, and Asia. The company's Test segment offers road simulators and component test systems for durability testing; vehicle performance test systems; vehicle dynamics simulators; electrical motors and energy recovery systems; tire performance and rolling resistance measurement systems; and moving ground-plane systems and balances.
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