Zacks Investment Research upgraded shares of Communications Systems (NASDAQ:JCS) from a sell rating to a hold rating in a research report released on Friday, March 9th.
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. “
Shares of Communications Systems (JCS) traded down $0.01 on Friday, reaching $3.60. 22,159 shares of the company’s stock traded hands, compared to its average volume of 9,301. Communications Systems has a 1-year low of $3.18 and a 1-year high of $4.99.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.16 annualized dividend and a yield of 4.44%. Communications Systems’s dividend payout ratio is currently -11.94%.
A number of institutional investors and hedge funds have recently made changes to their positions in JCS. Macquarie Group Ltd. acquired a new position in shares of Communications Systems during the third quarter worth $119,000. Gould Asset Management LLC CA acquired a new position in shares of Communications Systems during the third quarter worth $124,000. Ameriprise Financial Inc. increased its holdings in shares of Communications Systems by 33.7% during the second quarter. Ameriprise Financial Inc. now owns 29,831 shares of the communications equipment provider’s stock worth $129,000 after buying an additional 7,514 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Communications Systems by 10.1% during the fourth quarter. Renaissance Technologies LLC now owns 435,200 shares of the communications equipment provider’s stock worth $1,549,000 after buying an additional 40,000 shares in the last quarter. Institutional investors and hedge funds own 32.15% of the company’s stock.
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About Communications Systems
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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