Dimensional Fund Advisors LP Sells 100,721 Shares of Optical Cable Corporation $OCC

Key Points

• Dimensional Fund Advisors reduced its Optical Cable stake by 37.5%, selling 100,721 shares and retaining 168,211 shares worth approximately $1.39 million. Institutional investors collectively own 13.61% of the company.
• Optical Cable’s CFO sold 16,453 shares for about $283,485, reducing her ownership by 4.75%; company insiders still own 22.40% of the stock.
• The stock was trading at $17.80 after rising 7.0%, while analyst sentiment remained weak: one analyst rates it Sell, and the consensus rating is “Sell.” The company reported quarterly EPS of $0.12 on revenue of $22.21 million.

Dimensional Fund Advisors LP trimmed its holdings in shares of Optical Cable Corporation (NASDAQ:OCC - Free Report) by 37.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,211 shares of the communications equipment provider's stock after selling 100,721 shares during the quarter. Dimensional Fund Advisors LP owned 1.90% of Optical Cable worth $1,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Optical Cable during the 4th quarter valued at about $57,000. Citadel Advisors LLC acquired a new stake in shares of Optical Cable in the third quarter worth approximately $102,000. Round Rock Advisors LLC purchased a new position in shares of Optical Cable during the 4th quarter worth $139,000. State Street Corp lifted its stake in Optical Cable by 37.4% during the fourth quarter. State Street Corp now owns 36,773 shares of the communications equipment provider's stock worth $164,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Optical Cable in the fourth quarter valued at $210,000. Institutional investors own 13.61% of the company's stock.

Insider Transactions at Optical Cable

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total transaction of $283,485.19. Following the transaction, the chief financial officer directly owned 329,826 shares of the company's stock, valued at $5,682,901.98. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 22.40% of the company's stock.

Analyst Upgrades and Downgrades

OCC has been the topic of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Optical Cable in a research note on Friday, July 17th. Wall Street Zen cut Optical Cable from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

Optical Cable Stock Up 7.0%

Shares of NASDAQ OCC opened at $17.80 on Friday. The stock's 50-day simple moving average is $17.47 and its 200-day simple moving average is $11.90. Optical Cable Corporation has a 1 year low of $4.02 and a 1 year high of $27.98. The firm has a market cap of $157.17 million, a price-to-earnings ratio of 148.35 and a beta of 0.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 2.08.

Optical Cable (NASDAQ:OCC - Get Free Report) last posted its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 EPS for the quarter. The company had revenue of $22.21 million during the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.During the same period last year, the company posted ($0.09) earnings per share.

About Optical Cable

Optical Cable Corporation NASDAQ: OCC is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company's offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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