North Star Asset Management Inc. maintained its stake in shares of Plexus Corp. (NASDAQ:PLXS) during the second quarter, Holdings Channel reports. The fund owned 24,531 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Plexus Corp. were worth $969,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Artemis Investment Management LLP bought a new stake in Plexus Corp. during the second quarter worth about $15,547,000. Smith Asset Management Group LP increased its stake in Plexus Corp. by 205,750.0% in the second quarter. Smith Asset Management Group LP now owns 65,872 shares of the company’s stock worth $2,846,000 after buying an additional 65,840 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Plexus Corp. by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 840,885 shares of the company’s stock worth $33,232,000 after buying an additional 4,445 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Plexus Corp. by 29.0% in the first quarter. TIAA CREF Investment Management LLC now owns 142,198 shares of the company’s stock worth $5,620,000 after buying an additional 31,985 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in Plexus Corp. by 6.7% in the first quarter. BlackRock Group LTD now owns 47,025 shares of the company’s stock worth $1,858,000 after buying an additional 2,973 shares during the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.
Plexus Corp. (NASDAQ:PLXS) traded down 2.49% during mid-day trading on Tuesday, reaching $46.30. 42,000 shares of the company’s stock traded hands. Plexus Corp. has a 52-week low of $28.72 and a 52-week high of $47.94. The company has a 50-day moving average of $46.55 and a 200-day moving average of $43.97. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 19.53 and a beta of 1.14.
Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 20th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. Plexus Corp. had a net margin of 3.16% and a return on equity of 9.95%. The firm earned $667.60 million during the quarter, compared to analysts’ expectations of $655.37 million. During the same quarter in the prior year, the firm earned $0.69 EPS. Plexus Corp.’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts expect that Plexus Corp. will post $2.64 EPS for the current year.
A number of research firms have recently issued reports on PLXS. Zacks Investment Research downgraded shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Needham & Company LLC set a $52.00 price objective on shares of Plexus Corp. and gave the stock a “buy” rating in a research note on Friday, September 16th. Finally, B. Riley reissued a “neutral” rating and set a $50.00 price objective on shares of Plexus Corp. in a research note on Sunday, August 14th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Plexus Corp. currently has an average rating of “Hold” and a consensus price target of $48.17.
In other news, Chairman Dean A. Foate sold 8,658 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $45.56, for a total value of $394,458.48. Following the completion of the sale, the chairman now directly owns 188,258 shares of the company’s stock, valued at approximately $8,577,034.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ronnie Darroch sold 1,097 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $46.54, for a total transaction of $51,054.38. Following the completion of the sale, the insider now directly owns 722 shares of the company’s stock, valued at $33,601.88. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
Plexus Corp. Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for customers in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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