Today The Bank of New York Mellon Corp Increases Stake in Black Box Corporation (BBOX)

Today The Bank of New York Mellon Corp Increases Stake in Black Box Corporation (BBOX)

Bank of New York Mellon Corp boosted its position in Black Box Corporation (NASDAQ:BBOX) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 383,175 shares of the company’s stock after buying an additional 10,755 shares during the period. Bank of New York Mellon Corp owned 2.53% of Black Box Corporation worth $5,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. increased its stake in shares of Black Box Corporation by 40.5% in the second quarter. Prudential Financial Inc. now owns 116,719 shares of the company’s stock valued at $1,527,000 after buying an additional 33,661 shares during the period. Principal Financial Group Inc. increased its stake in shares of Black Box Corporation by 0.3% in the second quarter. Principal Financial Group Inc. now owns 105,686 shares of the company’s stock valued at $1,382,000 after buying an additional 341 shares during the period. California Public Employees Retirement System increased its stake in shares of Black Box Corporation by 3.5% in the second quarter. California Public Employees Retirement System now owns 154,500 shares of the company’s stock valued at $2,021,000 after buying an additional 5,200 shares during the period. Algert Global LLC increased its stake in shares of Black Box Corporation by 12.6% in the third quarter. Algert Global LLC now owns 160,187 shares of the company’s stock valued at $2,227,000 after buying an additional 17,927 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Black Box Corporation by 40.8% in the second quarter. JPMorgan Chase & Co. now owns 521,832 shares of the company’s stock valued at $6,826,000 after buying an additional 151,149 shares during the period. 96.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of Black Box Corporation (NASDAQ:BBOX) traded down 1.80% during mid-day trading on Wednesday, hitting $13.65. The stock had a trading volume of 29,679 shares. Black Box Corporation has a 52-week low of $6.83 and a 52-week high of $17.05. The stock’s 50-day moving average price is $15.32 and its 200-day moving average price is $14.17. The firm’s market cap is $206.77 million.

Black Box Corporation (NASDAQ:BBOX) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.09. Black Box Corporation had a positive return on equity of 8.66% and a negative net margin of 5.50%. The firm had revenue of $218.70 million for the quarter, compared to analysts’ expectations of $220.45 million. During the same period last year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, analysts anticipate that Black Box Corporation will post $1.00 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a $0.12 dividend. The ex-dividend date was Wednesday, December 28th. This represents a $0.48 annualized dividend and a dividend yield of 3.45%. Black Box Corporation’s payout ratio is presently -15.05%.

In other Black Box Corporation news, insider Eslie C. Sykes bought 21,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were bought at an average cost of $12.39 per share, with a total value of $260,190.00. Following the completion of the purchase, the insider now directly owns 75,790 shares of the company’s stock, valued at $939,038.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is owned by company insiders.

About Black Box Corporation

Black Box Corporation is a technology solutions provider. The Company is engaged in designing, building, managing and securing the information technology (IT) infrastructure. Offerings under the Company’s Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (KVM) switching.

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