MTS Systems Corp. (NASDAQ:MTSC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “MTS Systems Corporation is a leading global supplier of test systems and industrial position sensors. The Company’s testing hardware and software solutions help customers accelerate and improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures. MTS’ high-performance position sensors provide controls for a variety of industrial and vehicular applications. “
Several other research analysts have also recently issued reports on MTSC. JPMorgan Chase & Co. began coverage on shares of MTS Systems Corp. in a report on Thursday, June 23rd. They issued an “overweight” rating and a $54.00 price objective for the company. Stephens upgraded shares of MTS Systems Corp. from an “equal weight” rating to an “overweight” rating in a report on Friday, June 17th. Finally, Wells Fargo & Co. began coverage on shares of MTS Systems Corp. in a report on Wednesday, August 17th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $61.67.
Shares of MTS Systems Corp. (NASDAQ:MTSC) opened at 44.33 on Wednesday. MTS Systems Corp. has a 52 week low of $41.53 and a 52 week high of $68.28. The stock has a market capitalization of $739.16 million, a PE ratio of 21.53 and a beta of 1.60. The stock’s 50 day moving average is $46.63 and its 200 day moving average is $48.75.
MTS Systems Corp. (NASDAQ:MTSC) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The business earned $157.70 million during the quarter, compared to analysts’ expectations of $146.77 million. MTS Systems Corp. had a net margin of 5.37% and a return on equity of 12.45%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. Analysts anticipate that MTS Systems Corp. will post $2.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.71%. The ex-dividend date was Thursday, September 15th. MTS Systems Corp.’s dividend payout ratio is currently 58.54%.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in MTS Systems Corp. by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,303,099 shares of the company’s stock valued at $57,128,000 after buying an additional 151,440 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in MTS Systems Corp. by 39.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,266,533 shares of the company’s stock valued at $55,525,000 after buying an additional 361,528 shares during the last quarter. BlackRock Fund Advisors boosted its stake in MTS Systems Corp. by 9.9% in the second quarter. BlackRock Fund Advisors now owns 1,014,041 shares of the company’s stock valued at $44,456,000 after buying an additional 91,200 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in MTS Systems Corp. during the second quarter valued at $30,934,000. Finally, Dimensional Fund Advisors LP boosted its stake in MTS Systems Corp. by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 528,803 shares of the company’s stock valued at $23,183,000 after buying an additional 6,413 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.
About MTS Systems Corp.
MTS Systems Corporation (MTS) is a global supplier of test systems and position sensors. The Company’s operations are organized and managed in two business segments: the Test segment and the Sensors. Testing segment’s testing hardware, software and services solutions help customers improve their design, development, and manufacturing processes and are used for determining the mechanical behavior of materials, products, and structures.
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