M-tron Industries (NYSEAMERICAN:MPTI) Trading Up 0.7% - Time to Buy?

Key Points

• M-tron Industries shares increased by 0.7% during mid-day trading, reaching a last traded price of $44.34, after hitting a high of $45.01.
• Insider trading activity included President William Arnold Drafts purchasing 1,000 shares at $40.50 each, boosting his ownership by 9.99% to approximately $445,824.
• Institutional investors increased their stake in M-tron Industries, with 23.31% of the stock currently owned by such investors, indicating growing confidence in the company.

M-tron Industries, Inc. (NYSEAMERICAN:MPTI - Get Free Report) shares shot up 0.7% during trading on Tuesday . The company traded as high as $45.01 and last traded at $44.34. 54,341 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 49,028 shares. The stock had previously closed at $44.03.

M-tron Industries Price Performance

The firm has a market cap of $124.71 million, a PE ratio of 15.64, a P/E/G ratio of 0.65 and a beta of 0.69. The business has a fifty day moving average price of $42.94 and a two-hundred day moving average price of $47.64.

Insider Transactions at M-tron Industries

In other M-tron Industries news, President William Arnold Drafts purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average cost of $40.50 per share, with a total value of $40,500.00. Following the acquisition, the president directly owned 11,008 shares of the company's stock, valued at approximately $445,824. This trade represents a 9.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On M-tron Industries

Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. acquired a new stake in shares of M-tron Industries during the 4th quarter valued at $474,000. Renaissance Technologies LLC grew its position in shares of M-tron Industries by 139.7% during the 4th quarter. Renaissance Technologies LLC now owns 39,805 shares of the company's stock worth $1,928,000 after buying an additional 23,200 shares during the period. Concorde Asset Management LLC acquired a new position in shares of M-tron Industries during the fourth quarter valued at about $917,000. Next Century Growth Investors LLC bought a new position in shares of M-tron Industries in the 4th quarter worth $4,560,000. Finally, Walleye Capital LLC purchased a new stake in shares of M-tron Industries in the fourth quarter worth approximately $1,844,000. 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.