Dynamic Technology Lab Private Ltd acquired a new stake in shares of Plantronics Inc. (NYSE:PLT) during the second quarter, Holdings Channel reports. The institutional investor acquired 5,437 shares of the company’s stock, valued at approximately $240,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLT. UBS Group AG increased its position in Plantronics by 10.7% in the first quarter. UBS Group AG now owns 76,942 shares of the company’s stock valued at $3,015,000 after buying an additional 7,447 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Plantronics during the first quarter worth $466,000. Stadium Capital Management LLC purchased a new stake in Plantronics during the first quarter worth $22,445,000. Spark Investment Management LLC purchased a new stake in Plantronics during the first quarter worth $811,000. Finally, Palisade Capital Management LLC NJ purchased a new stake in Plantronics during the first quarter worth $2,476,000. 90.60% of the stock is owned by institutional investors.
Plantronics Inc. (NYSE:PLT) opened at 51.88 on Monday. The company has a market capitalization of $1.67 billion, a PE ratio of 25.71 and a beta of 1.59. Plantronics Inc. has a 12-month low of $32.13 and a 12-month high of $55.09. The firm’s 50 day moving average price is $50.60 and its 200-day moving average price is $44.77.
Plantronics (NYSE:PLT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The firm earned $223.10 million during the quarter, compared to the consensus estimate of $216.70 million. Plantronics had a return on equity of 24.55% and a net margin of 7.73%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. On average, equities analysts anticipate that Plantronics Inc. will post $3.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 19th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. Plantronics’s dividend payout ratio (DPR) is presently 29.70%.
A number of research firms have weighed in on PLT. Zacks Investment Research downgraded shares of Plantronics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. JPMorgan Chase & Co. set a $55.00 target price on shares of Plantronics and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, TheStreet raised shares of Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd.
In related news, Director Brian S. Dexheimer sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $49.97, for a total value of $199,880.00. Following the completion of the sale, the director now owns 18,384 shares in the company, valued at approximately $918,648.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO S Kenneth Kannappan sold 9,600 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $50.84, for a total value of $488,064.00. Following the completion of the sale, the chief executive officer now owns 165,255 shares of the company’s stock, valued at approximately $8,401,564.20. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
Want to see what other hedge funds are holding PLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plantronics Inc. (NYSE:PLT).
Receive News & Ratings for Plantronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plantronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.