State Board of Administration of Florida Retirement System held its position in shares of Daktronics Inc. (NASDAQ:DAKT) during the second quarter, Holdings Channel reports. The firm owned 45,637 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Daktronics worth $285,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BTC Capital Management Inc. boosted its position in shares of Daktronics by 99.3% in the second quarter. BTC Capital Management Inc. now owns 20,344 shares of the company’s stock valued at $127,000 after buying an additional 10,136 shares in the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of Daktronics by 129.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 26,338 shares of the company’s stock valued at $163,000 after buying an additional 14,868 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Daktronics during the second quarter valued at $213,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Daktronics by 6.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 28,022 shares of the company’s stock valued at $221,000 after buying an additional 1,608 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its position in shares of Daktronics by 11.4% in the second quarter. Wedge Capital Management L L P NC now owns 53,846 shares of the company’s stock valued at $337,000 after buying an additional 5,517 shares in the last quarter. Institutional investors and hedge funds own 44.60% of the company’s stock.
Shares of Daktronics Inc. (NASDAQ:DAKT) traded down 1.12% during mid-day trading on Friday, hitting $8.84. 145,925 shares of the stock traded hands. The stock has a market cap of $387.83 million, a price-to-earnings ratio of 101.61 and a beta of 1.40. The firm has a 50 day moving average of $9.53 and a 200 day moving average of $7.85. Daktronics Inc. has a 12 month low of $5.92 and a 12 month high of $10.28.
Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.08. Daktronics had a net margin of 0.66% and a return on equity of 1.87%. The firm had revenue of $157.10 million for the quarter. During the same period last year, the company posted $0.09 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities analysts expect that Daktronics Inc. will post $0.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Monday, September 12th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 8th. This is a boost from Daktronics’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 3.17%. Daktronics’s dividend payout ratio is currently 311.15%.
Several brokerages have recently commented on DAKT. Zacks Investment Research upgraded shares of Daktronics from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research report on Friday, August 26th. Needham & Company LLC raised their price objective on shares of Daktronics from $8.00 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, August 24th.
Daktronics Company Profile
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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