Strs Ohio Makes New $289,000 Investment in Richardson Electronics, Ltd. $RELL

Key Points

• Strs Ohio invested approximately $289,000 in Richardson Electronics by acquiring 25,900 shares, representing about 0.18% ownership as of the latest SEC filing.
• Multiple institutional investors have also increased their stakes in Richardson Electronics, with notable increases from Northern Trust Corp and American Century Companies.
• Richardson Electronics recently announced a quarterly dividend of $0.06, yielding approximately 2.3%, despite a negative payout ratio of -300%.

Strs Ohio bought a new position in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,900 shares of the technology company's stock, valued at approximately $289,000. Strs Ohio owned about 0.18% of Richardson Electronics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp increased its stake in Richardson Electronics by 1.7% during the fourth quarter. Northern Trust Corp now owns 98,765 shares of the technology company's stock worth $1,386,000 after acquiring an additional 1,623 shares during the last quarter. American Century Companies Inc. increased its stake in Richardson Electronics by 11.8% during the first quarter. American Century Companies Inc. now owns 27,172 shares of the technology company's stock worth $303,000 after acquiring an additional 2,860 shares during the last quarter. Bank of America Corp DE increased its stake in Richardson Electronics by 37.6% during the fourth quarter. Bank of America Corp DE now owns 14,658 shares of the technology company's stock worth $206,000 after acquiring an additional 4,003 shares during the last quarter. Deutsche Bank AG increased its stake in Richardson Electronics by 62.2% during the fourth quarter. Deutsche Bank AG now owns 10,452 shares of the technology company's stock worth $147,000 after acquiring an additional 4,009 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in Richardson Electronics by 44.9% during the first quarter. Ritholtz Wealth Management now owns 17,800 shares of the technology company's stock worth $199,000 after acquiring an additional 5,513 shares during the last quarter. Institutional investors and hedge funds own 71.95% of the company's stock.

Insider Buying and Selling at Richardson Electronics

In other news, EVP Kathleen Mcnally sold 8,417 shares of Richardson Electronics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $10.01, for a total value of $84,254.17. Following the completion of the sale, the executive vice president directly owned 45,719 shares of the company's stock, valued at approximately $457,647.19. The trade was a 15.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 33.40% of the company's stock.

Richardson Electronics Trading Up 0.6%

Shares of NASDAQ RELL opened at $10.41 on Wednesday. Richardson Electronics, Ltd. has a twelve month low of $7.57 and a twelve month high of $15.51. The stock has a fifty day simple moving average of $9.88 and a 200-day simple moving average of $9.78. The stock has a market capitalization of $150.86 million, a PE ratio of -130.11, a PEG ratio of 2.51 and a beta of 1.01.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. Richardson Electronics had a positive return on equity of 2.07% and a negative net margin of 0.55%.The business had revenue of $51.89 million during the quarter, compared to analysts' expectations of $53.86 million. On average, equities analysts predict that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current year.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.3%. Richardson Electronics's payout ratio is presently -300.00%.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.

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