Loews Corp increased its stake in shares of MTS Systems Corporation (NASDAQ:MTSC) by 48.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,000 shares of the scientific and technical instruments company’s stock after purchasing an additional 65,000 shares during the period. MTS Systems Corporation makes up approximately 0.1% of Loews Corp’s investment portfolio, making the stock its 18th largest holding. Loews Corp owned about 1.19% of MTS Systems Corporation worth $10,360,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of MTS Systems Corporation by 114,721.5% during the first quarter. BlackRock Inc. now owns 2,148,311 shares of the scientific and technical instruments company’s stock worth $118,264,000 after buying an additional 2,146,440 shares during the period. Bowen Hanes & Co. Inc. bought a new stake in MTS Systems Corporation during the second quarter worth about $10,878,000. Denver Investment Advisors LLC raised its holdings in MTS Systems Corporation by 46.7% during the second quarter. Denver Investment Advisors LLC now owns 461,557 shares of the scientific and technical instruments company’s stock worth $23,909,000 after acquiring an additional 146,953 shares in the last quarter. Kennedy Capital Management Inc. raised its holdings in MTS Systems Corporation by 192.2% during the second quarter. Kennedy Capital Management Inc. now owns 131,439 shares of the scientific and technical instruments company’s stock worth $6,809,000 after acquiring an additional 86,450 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in MTS Systems Corporation by 5.2% during the first quarter. Vanguard Group Inc. now owns 1,518,170 shares of the scientific and technical instruments company’s stock worth $83,576,000 after acquiring an additional 75,693 shares in the last quarter.
Shares of MTS Systems Corporation (NASDAQ:MTSC) traded up 0.962% during midday trading on Friday, reaching $49.875. The company had a trading volume of 42,081 shares. The company has a 50 day moving average price of $48.89 and a 200-day moving average price of $51.22. MTS Systems Corporation has a one year low of $41.53 and a one year high of $59.00. The firm has a market capitalization of $845.63 million, a P/E ratio of 38.160 and a beta of 1.27.
MTS Systems Corporation (NASDAQ:MTSC) last issued its earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.10. MTS Systems Corporation had a net margin of 3.13% and a return on equity of 12.49%. The business had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $193.03 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, analysts anticipate that MTS Systems Corporation will post $2.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.41%. MTS Systems Corporation’s payout ratio is 91.60%.
In other news, insider David Hore purchased 10,000 shares of MTS Systems Corporation stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of $48.20 per share, for a total transaction of $482,000.00. Following the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at $723,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William C. Becker purchased 4,000 shares of MTS Systems Corporation stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average price of $46.40 per share, with a total value of $185,600.00. Following the completion of the transaction, the insider now directly owns 4,000 shares in the company, valued at $185,600. The disclosure for this purchase can be found here. Insiders have acquired a total of 20,000 shares of company stock worth $951,560 in the last three months. Insiders own 1.50% of the company’s stock.
Several research firms recently issued reports on MTSC. BidaskClub lowered MTS Systems Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered MTS Systems Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, FBR & Co restated an “outperform” rating on shares of MTS Systems Corporation in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. MTS Systems Corporation presently has a consensus rating of “Hold” and an average target price of $55.67.
MTS Systems Corporation Profile
MTS Systems Corporation is a supplier of test systems and position sensors. The Company operates through two segments: Test and Sensors. The Test segment provides testing solutions, including hardware, software and services to ground vehicles, materials and structures markets. The Sensors segment provides position sensors for a range of industrial and mobile hydraulic applications.
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