Tocqueville Asset Management L.P. decreased its position in Plexus Corp. (NASDAQ:PLXS) by 48.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,533 shares of the company’s stock after selling 186,400 shares during the period. Tocqueville Asset Management L.P.’s holdings in Plexus Corp. were worth $8,404,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Kempen Capital Management N.V. raised its position in shares of Plexus Corp. by 64.6% in the first quarter. Kempen Capital Management N.V. now owns 3,509 shares of the company’s stock valued at $139,000 after buying an additional 1,377 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Plexus Corp. during the first quarter valued at approximately $216,000. BNP Paribas Arbitrage SA raised its position in shares of Plexus Corp. by 93.9% in the second quarter. BNP Paribas Arbitrage SA now owns 11,389 shares of the company’s stock valued at $492,000 after buying an additional 5,515 shares during the period. Virginia Retirement System acquired a new position in shares of Plexus Corp. during the first quarter valued at approximately $474,000. Finally, Profit Investment Management LLC acquired a new position in shares of Plexus Corp. during the second quarter valued at approximately $773,000. 92.91% of the stock is currently owned by institutional investors.
Shares of Plexus Corp. (NASDAQ:PLXS) traded up 0.429% during midday trading on Monday, reaching $45.695. The company’s stock had a trading volume of 35,509 shares. Plexus Corp. has a 52 week low of $28.72 and a 52 week high of $47.94. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 19.272 and a beta of 1.14. The firm’s 50 day moving average is $46.47 and its 200 day moving average is $44.07.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The company earned $667.60 million during the quarter, compared to the consensus estimate of $655.37 million. Plexus Corp. had a return on equity of 9.95% and a net margin of 3.16%. Plexus Corp.’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. Equities analysts forecast that Plexus Corp. will post $2.64 EPS for the current fiscal year.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Needham & Company LLC set a $52.00 price objective on Plexus Corp. and gave the company a “buy” rating in a report on Friday, September 16th. Finally, B. Riley reiterated a “neutral” rating and issued a $50.00 price objective on shares of Plexus Corp. in a report on Sunday, August 14th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.17.
In other news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $45.94, for a total transaction of $103,365.00. Following the sale, the chief accounting officer now owns 11,837 shares in the company, valued at $543,791.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yong Jin Lim sold 5,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $46.49, for a total value of $232,450.00. Following the sale, the insider now owns 50,000 shares in the company, valued at approximately $2,324,500. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.
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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