M-tron Industries (NYSEAMERICAN:MPTI) Shares Down 3.3% – Here’s What Happened

Shares of M-tron Industries, Inc. (NYSEAMERICAN:MPTI) fell 3.3% during mid-day trading on Wednesday . The company traded as low as $48.80 and last traded at $50.77. 48,727 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 46,145 shares. The stock had previously closed at $52.52.

M-tron Industries Price Performance

The company has a market capitalization of $145.71 million, a price-to-earnings ratio of 25.39, a PEG ratio of 0.87 and a beta of 0.81.

Insiders Place Their Bets

In other M-tron Industries news, Director Ivan Arteaga sold 1,600 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $50.66, for a total transaction of $81,056.00. Following the transaction, the director now owns 364 shares in the company, valued at $18,440.24. This trade represents a 81.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On M-tron Industries

Several large investors have recently made changes to their positions in MPTI. Evernest Financial Advisors LLC acquired a new position in M-tron Industries during the 3rd quarter valued at $865,000. Truvestments Capital LLC increased its holdings in shares of M-tron Industries by 14.0% during the 3rd quarter. Truvestments Capital LLC now owns 8,057 shares of the company’s stock worth $336,000 after purchasing an additional 988 shares during the period. Barclays PLC acquired a new position in shares of M-tron Industries during the third quarter valued at about $114,000. Finally, Geode Capital Management LLC lifted its stake in shares of M-tron Industries by 18.6% in the third quarter. Geode Capital Management LLC now owns 23,706 shares of the company’s stock valued at $989,000 after buying an additional 3,718 shares during the period. Institutional investors and hedge funds own 23.31% of the company’s stock.

M-tron Industries Company Profile

M-tron Industries, Inc engages in the design, manufacture, and marketing of frequency and spectrum control products in the United States and internationally. The company's products include radio frequency, microwave, and millimeter wave filters; cavity, crystal, ceramic, lumped element, and switched filters; high frequency and performance OCXOs, integrated PLL OCXOs, TCXOs, VCXOs, and low jitter and harsh environment oscillators; crystal resonators, integrated microwave assemblies; and solid-state power amplifier products.