Deprince Race & Zollo Inc. increased its position in Tessco Technologies Inc. (NASDAQ:TESS) by 0.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 579,937 shares of the company’s stock after buying an additional 1,002 shares during the period. Deprince Race & Zollo Inc. owned approximately 7.00% of Tessco Technologies worth $7,197,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Tessco Technologies during the second quarter worth about $217,000. Bank of New York Mellon Corp boosted its position in shares of Tessco Technologies by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 44,011 shares of the company’s stock worth $612,000 after buying an additional 3,944 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Tessco Technologies during the second quarter worth about $1,046,000. JPMorgan Chase & Co. boosted its position in shares of Tessco Technologies by 516.6% in the second quarter. JPMorgan Chase & Co. now owns 18,222 shares of the company’s stock worth $253,000 after buying an additional 15,267 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Tessco Technologies by 2.5% in the second quarter. Brown Advisory Inc. now owns 79,170 shares of the company’s stock worth $1,100,000 after buying an additional 1,939 shares during the last quarter. 60.75% of the stock is owned by institutional investors and hedge funds.
Tessco Technologies Inc. (NASDAQ:TESS) traded down 0.84% during midday trading on Friday, reaching $11.75. The company had a trading volume of 8,697 shares. The firm has a 50-day moving average of $11.71 and a 200-day moving average of $12.79. Tessco Technologies Inc. has a 12 month low of $9.75 and a 12 month high of $22.13. The stock has a market cap of $97.90 million, a P/E ratio of 49.37 and a beta of 1.60.
Tessco Technologies (NASDAQ:TESS) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Tessco Technologies had a return on equity of 2.58% and a net margin of 0.38%. The business earned $134.60 million during the quarter, compared to analysts’ expectations of $129.18 million. On average, equities analysts expect that Tessco Technologies Inc. will post $0.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Wednesday, November 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date was Monday, November 7th. Tessco Technologies’s payout ratio is currently 333.35%.
Separately, Zacks Investment Research cut Tessco Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 28th.
About Tessco Technologies
TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.
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