Metropolitan Life Insurance Co NY Sells 252 Shares of Plexus Corp. (NASDAQ:PLXS)

Metropolitan Life Insurance Co NY reduced its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,606 shares of the technology company’s stock after selling 252 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Plexus were worth $585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PLXS. BlackRock Inc. boosted its holdings in shares of Plexus by 0.6% in the 4th quarter. BlackRock Inc. now owns 4,627,028 shares of the technology company’s stock valued at $236,350,000 after buying an additional 25,893 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Plexus by 11.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 617,365 shares of the technology company’s stock valued at $31,535,000 after buying an additional 64,098 shares during the last quarter. Norges Bank acquired a new stake in shares of Plexus in the 4th quarter valued at approximately $24,853,000. Geode Capital Management LLC boosted its holdings in shares of Plexus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 386,839 shares of the technology company’s stock valued at $19,759,000 after buying an additional 12,686 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Plexus by 25.9% in the 1st quarter. State of Wisconsin Investment Board now owns 189,490 shares of the technology company’s stock valued at $11,549,000 after buying an additional 39,000 shares during the last quarter. 94.51% of the stock is owned by institutional investors.

In other news, CFO Patrick John Jermain sold 4,475 shares of Plexus stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $60.41, for a total transaction of $270,334.75. Following the sale, the chief financial officer now directly owns 33,611 shares of the company’s stock, valued at $2,030,440.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ronnie Darroch sold 4,325 shares of Plexus stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $60.56, for a total value of $261,922.00. Following the sale, the vice president now directly owns 8,451 shares in the company, valued at $511,792.56. The disclosure for this sale can be found here. Insiders sold 24,493 shares of company stock worth $1,485,704 in the last 90 days. 3.90% of the stock is owned by company insiders.

PLXS has been the subject of several research reports. Needham & Company LLC raised their price target on Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 13th. Sidoti set a $72.00 price target on Plexus and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $69.67.

Shares of PLXS traded up $0.24 during midday trading on Friday, reaching $56.05. 290,465 shares of the stock were exchanged, compared to its average volume of 198,369. Plexus Corp. has a twelve month low of $47.63 and a twelve month high of $66.98. The company has a current ratio of 1.78, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.69 billion, a P/E ratio of 17.35 and a beta of 0.99. The firm has a 50 day moving average of $55.87.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 17th. The technology company reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. Plexus had a return on equity of 12.40% and a net margin of 4.62%. The company had revenue of $799.64 million during the quarter, compared to the consensus estimate of $783.30 million. During the same quarter last year, the firm earned $0.79 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Research analysts expect that Plexus Corp. will post 3.46 EPS for the current year.

Plexus Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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