Dimensional Fund Advisors LP raised its position in shares of TESSCO Technologies Incorporated (NASDAQ:TESS) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 452,817 shares of the communications equipment provider’s stock after buying an additional 5,128 shares during the period. Dimensional Fund Advisors LP owned approximately 5.44% of TESSCO Technologies worth $7,109,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Algert Global LLC acquired a new stake in shares of TESSCO Technologies during the first quarter worth $249,000. HPM Partners LLC acquired a new stake in shares of TESSCO Technologies during the first quarter worth $322,000. Stifel Financial Corp increased its stake in shares of TESSCO Technologies by 3.6% in the first quarter. Stifel Financial Corp now owns 25,682 shares of the communications equipment provider’s stock worth $398,000 after buying an additional 900 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of TESSCO Technologies by 9.0% in the first quarter. Acadian Asset Management LLC now owns 29,726 shares of the communications equipment provider’s stock worth $468,000 after buying an additional 2,462 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of TESSCO Technologies by 11.0% in the first quarter. Wells Fargo & Company MN now owns 47,587 shares of the communications equipment provider’s stock worth $747,000 after buying an additional 4,700 shares in the last quarter. 60.53% of the stock is owned by institutional investors and hedge funds.
TESSCO Technologies Incorporated (NASDAQ:TESS) traded up 0.37% on Thursday, reaching $13.55. 10,943 shares of the company’s stock traded hands. TESSCO Technologies Incorporated has a 52-week low of $9.75 and a 52-week high of $16.25. The stock has a market capitalization of $113.41 million, a PE ratio of 56.46 and a beta of 1.25. The firm’s 50-day moving average is $13.63 and its 200 day moving average is $14.00.
TESSCO Technologies (NASDAQ:TESS) last released its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.04. TESSCO Technologies had a return on equity of 2.36% and a net margin of 0.38%. The company had revenue of $140.01 million during the quarter, compared to the consensus estimate of $126.68 million. Analysts forecast that TESSCO Technologies Incorporated will post $0.72 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date was Monday, August 7th. TESSCO Technologies’s dividend payout ratio is presently 320.00%.
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Separately, Zacks Investment Research upgraded shares of TESSCO Technologies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Friday, July 21st.
TESSCO Technologies Company Profile
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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