Zacks Investment Research downgraded shares of Communications Systems (NASDAQ:JCS) from a hold rating to a sell rating in a report released on Wednesday morning.
According to Zacks, “Communications Systems manufactures and markets connectors and wiring devices for voice, data and video communications under the Suttle brand name in the United States and internationally. The company also manufactures a line of high performance fiber-optic connectors, interconnect devices and fiber cable assemblies for the telecommunications, computer and electronics markets. The company has several manufacturing plants in the United States and abroad. “
Communications Systems (JCS) traded up $0.23 during trading on Wednesday, hitting $3.77. The stock had a trading volume of 43,896 shares, compared to its average volume of 17,035. Communications Systems has a 1-year low of $3.18 and a 1-year high of $5.19.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 4.24%. The ex-dividend date was Thursday, December 14th. Communications Systems’s dividend payout ratio (DPR) is presently -11.94%.
Large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. purchased a new position in Communications Systems in the third quarter valued at $119,000. Gould Asset Management LLC CA purchased a new position in Communications Systems in the third quarter valued at $124,000. Finally, Ameriprise Financial Inc. boosted its stake in Communications Systems by 33.7% in the second quarter. Ameriprise Financial Inc. now owns 29,831 shares of the communications equipment provider’s stock valued at $129,000 after acquiring an additional 7,514 shares in the last quarter. 32.13% of the stock is currently owned by hedge funds and other institutional investors.
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Communications Systems Company Profile
Communications Systems, Inc (CSI) operates directly and through its subsidiaries located in the United States, Costa Rica and the United Kingdom. The Company operates through three segments: Suttle, Transition Networks and JDL Technologies (JDL). The Company provides physical connectivity infrastructure products and services for global deployments of broadband networks.
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