Dimensional Fund Advisors LP Sells 100,721 Shares of Optical Cable Corporation $OCC

Dimensional Fund Advisors LP lessened its stake in Optical Cable Corporation (NASDAQ:OCC) by 37.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 168,211 shares of the communications equipment provider’s stock after selling 100,721 shares during the period. Dimensional Fund Advisors LP’s holdings in Optical Cable were worth $1,388,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of OCC. Shikiar Asset Management Inc. boosted its position in shares of Optical Cable by 14.4% during the 1st quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock valued at $232,000 after acquiring an additional 3,550 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Optical Cable by 46.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 48,268 shares of the communications equipment provider’s stock worth $215,000 after buying an additional 15,255 shares during the last quarter. Gendell Jeffrey L lifted its stake in Optical Cable by 47.4% in the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock valued at $1,848,000 after buying an additional 133,510 shares during the period. State Street Corp raised its holdings in Optical Cable by 37.4% in the fourth quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock worth $164,000 after purchasing an additional 10,000 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Optical Cable in the fourth quarter worth $57,000. Institutional investors own 13.61% of the company’s stock.

Optical Cable Price Performance

Shares of NASDAQ:OCC opened at $17.80 on Friday. Optical Cable Corporation has a 1-year low of $4.02 and a 1-year high of $27.98. The stock’s fifty day simple moving average is $17.47 and its two-hundred day simple moving average is $11.90. The company has a current ratio of 2.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The stock has a market cap of $157.17 million, a PE ratio of 148.35 and a beta of 0.55.

Optical Cable (NASDAQ:OCC) last released its quarterly earnings data on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. The business had revenue of $22.21 million during the quarter. Optical Cable had a net margin of 1.29% and a return on equity of 5.92%. During the same quarter in the prior year, the firm posted ($0.09) earnings per share.

Analysts Set New Price Targets

OCC has been the subject of several research reports. Wall Street Zen cut shares of Optical Cable from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Optical Cable presently has a consensus rating of “Sell”.

Insider Buying and Selling at Optical Cable

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total transaction of $283,485.19. Following the completion of the sale, the chief financial officer owned 329,826 shares of the company’s stock, valued at $5,682,901.98. This represents a 4.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 22.40% of the company’s stock.

Optical Cable Profile

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.