Tower Research Capital LLC TRC raised its position in Plantronics Inc. (NYSE:PLT) by 1,563.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,327 shares of the company’s stock after buying an additional 3,127 shares during the period. Tower Research Capital LLC TRC’s holdings in Plantronics were worth $146,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new position in Plantronics during the second quarter worth about $154,000. Invictus RG purchased a new position in Plantronics during the first quarter worth about $149,000. NN Investment Partners Holdings N.V. purchased a new position in Plantronics during the first quarter worth about $152,000. Teacher Retirement System of Texas boosted its position in Plantronics by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,700 shares of the company’s stock worth $207,000 after buying an additional 571 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Plantronics during the second quarter worth about $240,000. Institutional investors own 90.60% of the company’s stock.
Plantronics Inc. (NYSE:PLT) opened at 51.71 on Friday. The firm has a 50 day moving average of $50.83 and a 200-day moving average of $45.30. Plantronics Inc. has a 52-week low of $32.13 and a 52-week high of $55.09. The stock has a market cap of $1.67 billion, a PE ratio of 25.62 and a beta of 1.59.
Plantronics (NYSE:PLT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.06. Plantronics had a net margin of 7.73% and a return on equity of 24.55%. The firm earned $223.10 million during the quarter, compared to analyst estimates of $216.70 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. Plantronics’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts anticipate that Plantronics Inc. will post $3.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors 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 1.16%. Plantronics’s dividend payout ratio is 29.70%.
PLT has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Plantronics from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet upgraded shares of Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $55.00 price objective on shares of Plantronics and gave the company a “buy” rating in a research report on Wednesday, August 3rd.
In related news, Director Brian S. Dexheimer sold 4,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $49.97, for a total transaction of $199,880.00. Following the completion of the transaction, the director now owns 18,384 shares in the company, valued at $918,648.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO S Kenneth Kannappan sold 14,946 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $51.00, for a total transaction of $762,246.00. Following the transaction, the chief executive officer now owns 125,055 shares of the company’s stock, valued at approximately $6,377,805. The disclosure for this sale can be found here. Corporate 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.
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