Bessemer Group Inc. Has $2.21 Million Position in Plexus Corp. (PLXS)
Bessemer Group Inc. increased its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,100 shares of the technology company’s stock after buying an additional 500 shares during the period. Bessemer Group Inc.’s holdings in Plexus Corp. were worth $2,213,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Plexus Corp. by 11.9% in the first quarter. Ameriprise Financial Inc. now owns 337,760 shares of the technology company’s stock valued at $19,522,000 after buying an additional 35,999 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Plexus Corp. by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,950 shares of the technology company’s stock valued at $749,000 after buying an additional 150 shares during the period. Dimensional Fund Advisors LP increased its position in Plexus Corp. by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,661,720 shares of the technology company’s stock valued at $153,848,000 after buying an additional 95,203 shares during the period. Swiss National Bank increased its position in Plexus Corp. by 2.0% in the first quarter. Swiss National Bank now owns 55,200 shares of the technology company’s stock valued at $3,191,000 after buying an additional 1,100 shares during the period. Finally, Alambic Investment Management L.P. bought a new position in Plexus Corp. during the first quarter valued at $376,000. Institutional investors own 95.20% of the company’s stock.
Plexus Corp. (NASDAQ PLXS) opened at 52.34 on Thursday. Plexus Corp. has a 12 month low of $44.35 and a 12 month high of $58.74. The stock has a market capitalization of $1.76 billion, a P/E ratio of 17.67 and a beta of 0.93. The stock has a 50 day moving average price of $53.02 and a 200 day moving average price of $54.16.
Plexus Corp. (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The firm had revenue of $618.80 million for the quarter, compared to analysts’ expectations of $608.95 million. During the same period last year, the firm earned $0.82 EPS. The company’s quarterly revenue was down 7.3% on a year-over-year basis. Equities analysts predict that Plexus Corp. will post $3.22 EPS for the current fiscal year.
PLXS has been the topic of several analyst reports. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Citigroup Inc. lifted their target price on Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Royal Bank Of Canada reiterated a “sector perform” rating and set a $57.00 target price on shares of Plexus Corp. in a research report on Saturday, April 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $54.00 target price (up from $50.00) on shares of Plexus Corp. in a research report on Friday, July 21st. Finally, BidaskClub downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Plexus Corp. currently has a consensus rating of “Hold” and a consensus target price of $58.25.
In other news, Chairman Dean A. Foate sold 5,500 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $54.90, for a total transaction of $301,950.00. Following the sale, the chairman now directly owns 247,642 shares in the company, valued at approximately $13,595,545.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven J. Frisch sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $54.82, for a total value of $137,050.00. Following the sale, the vice president now owns 20,478 shares in the company, valued at $1,122,603.96. The disclosure for this sale can be found here. Insiders have sold a total of 80,106 shares of company stock worth $4,373,206 over the last 90 days. Insiders own 4.30% of the company’s stock.
Plexus Corp. Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company 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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