MTS Systems Corporation (MTSC) Issues Quarterly Earnings Results
MTS Systems Corporation (NASDAQ:MTSC) posted its quarterly earnings results on Monday. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.10, Bloomberg Earnings reports. The business had revenue of $194 million for the quarter, compared to the consensus estimate of $193.03 million. MTS Systems Corporation had a return on equity of 12.81% and a net margin of 2.83%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS.
MTS Systems Corporation (MTSC) traded up 0.49% during mid-day trading on Tuesday, reaching $51.40. The company’s stock had a trading volume of 14,310 shares. MTS Systems Corporation has a one year low of $41.53 and a one year high of $59.00. The firm has a market cap of $860.49 million, a PE ratio of 43.27 and a beta of 1.29. The stock’s 50 day moving average is $52.74 and its 200 day moving average is $53.09.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $1.20 annualized dividend and a yield of 2.35%. MTS Systems Corporation’s payout ratio is presently 98.36%.
Several research firms have weighed in on MTSC. FBR & Co reiterated an “outperform” rating on shares of MTS Systems Corporation in a research note on Tuesday, July 11th. TheStreet downgraded MTS Systems Corporation from a “b-” rating to a “c” rating in a research note on Monday, April 17th. Zacks Investment Research upgraded MTS Systems Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Finally, BidaskClub downgraded MTS Systems Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $55.67.
In other news, insider David Hore acquired 5,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average price of $51.55 per share, with a total value of $257,750.00. Following the completion of the acquisition, the insider now owns 5,000 shares in the company, valued at approximately $257,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey A. Graves sold 1,426 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $54.40, for a total value of $77,574.40. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Several institutional investors have recently modified their holdings of MTSC. State of Alaska Department of Revenue raised its position in shares of MTS Systems Corporation by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 1,850 shares of the scientific and technical instruments company’s stock valued at $101,000 after buying an additional 50 shares during the last quarter. SG Americas Securities LLC bought a new position in MTS Systems Corporation during the second quarter worth about $110,000. Mosaic Family Wealth LLC raised its position in MTS Systems Corporation by 2.9% in the first quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the scientific and technical instruments company’s stock worth $175,000 after buying an additional 91 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in MTS Systems Corporation by 12.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,535 shares of the scientific and technical instruments company’s stock worth $195,000 after buying an additional 384 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new position in MTS Systems Corporation during the first quarter worth about $203,000.
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About MTS Systems Corporation
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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