Albert Investment Associates, L.P.
revealed that they own 5% of Communications Systems, Inc. (NASDAQ:JCS) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Tuesday, March 13th. The investor owns 0 shares of the stock valued at $0. The filing is available through the SEC website at this link.
provided the following explanation of their ownership:
Other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. acquired a new position in Communications Systems in the third quarter valued at approximately $119,000. Gould Asset Management LLC CA acquired a new position in Communications Systems in the third quarter valued at approximately $124,000. Ameriprise Financial Inc. lifted its holdings in Communications Systems by 33.7% in the second quarter. Ameriprise Financial Inc. now owns 29,831 shares of the communications equipment provider’s stock valued at $129,000 after acquiring an additional 7,514 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Communications Systems by 10.1% in the fourth quarter. Renaissance Technologies LLC now owns 435,200 shares of the communications equipment provider’s stock valued at $1,549,000 after acquiring an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 32.15% of the company’s stock.
Communications Systems, Inc. (NASDAQ:JCS) traded down $0.18 during trading hours on Tuesday, reaching $3.61. The company’s stock had a trading volume of 2,181 shares, compared to its average volume of 15,747. Communications Systems, Inc. has a one year low of $3.18 and a one year high of $4.99.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Wednesday, March 14th. Communications Systems’s dividend payout ratio (DPR) is -11.94%.
Separately, Zacks Investment Research upgraded Communications Systems from a “sell” rating to a “hold” rating in a research note on Friday.
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About Communications Systems
Communications Systems, Inc (CSI) operates directly and through its subsidiaries located in the United States, Costa Rica and the United Kingdom. The Company operates through three segments: Suttle, Transition Networks and JDL Technologies (JDL). The Company provides physical connectivity infrastructure products and services for global deployments of broadband networks.
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