M-tron Industries (NYSEAMERICAN:MPTI) Stock Price Down 3.3% – What’s Next?

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

M-tron Industries Stock Performance

The stock has a market capitalization of $145.71 million, a PE ratio of 25.39, a PEG ratio of 0.87 and a beta of 0.81.

Insider Activity

In other news, Director Ivan Arteaga sold 1,600 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $50.66, for a total value of $81,056.00. Following the sale, the director now owns 364 shares of the company’s stock, valued at approximately $18,440.24. This represents a 81.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On M-tron Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPTI. Barclays PLC acquired a new stake in shares of M-tron Industries in the third quarter valued at $114,000. Truvestments Capital LLC lifted its position in 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 buying an additional 988 shares in the last quarter. Evernest Financial Advisors LLC bought a new stake in M-tron Industries during the 3rd quarter worth about $865,000. Finally, Geode Capital Management LLC increased its position in M-tron Industries by 18.6% in the 3rd quarter. Geode Capital Management LLC now owns 23,706 shares of the company’s stock valued at $989,000 after acquiring an additional 3,718 shares in the last quarter. 23.31% of the stock is currently owned by institutional investors and hedge funds.

About M-tron Industries

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.