Schwab Charles Investment Management Inc. Sells 59,455 Shares of Sparton Co. (SPA)

Schwab Charles Investment Management Inc. lowered its stake in shares of Sparton Co. (NYSE:SPA) by 39.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 89,613 shares of the electronics maker’s stock after selling 59,455 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Sparton were worth $1,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SPA. United Capital Financial Advisers LLC purchased a new stake in shares of Sparton in the first quarter worth $174,000. State Board of Administration of Florida Retirement System raised its position in shares of Sparton by 34.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,322 shares of the electronics maker’s stock worth $348,000 after buying an additional 4,680 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Sparton in the first quarter worth $661,000. Bank of New York Mellon Corp raised its position in shares of Sparton by 10.3% in the second quarter. Bank of New York Mellon Corp now owns 77,028 shares of the electronics maker’s stock worth $1,463,000 after buying an additional 7,185 shares in the last quarter. Finally, Ancora Advisors LLC raised its position in shares of Sparton by 615.8% in the first quarter. Ancora Advisors LLC now owns 123,222 shares of the electronics maker’s stock worth $2,145,000 after buying an additional 106,008 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Shares of SPA stock opened at $14.24 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.16. Sparton Co. has a 52-week low of $11.95 and a 52-week high of $23.40. The firm has a market capitalization of $141.91 million, a P/E ratio of 14.58 and a beta of 1.09.

Separately, ValuEngine downgraded Sparton from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd.

About Sparton

Sparton Corporation, together with its subsidiaries, provides design, development, and manufacturing services for electromechanical devices; and engineered products in electromechanical value stream worldwide. The company operates through two segments, Manufacturing & Design Services (MDS), and Engineered Components & Products (ECP).

Further Reading: Understanding Analyst Recommendations

Want to see what other hedge funds are holding SPA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sparton Co. (NYSE:SPA).

Institutional Ownership by Quarter for Sparton (NYSE:SPA)

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