Bank of New York Mellon Corp Sells 1,470 Shares of CSP Inc. (NASDAQ:CSPI)

Bank of New York Mellon Corp reduced its holdings in CSP Inc. (NASDAQ:CSPI) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,182 shares of the information technology services provider’s stock after selling 1,470 shares during the quarter. Bank of New York Mellon Corp’s holdings in CSP were worth $1,016,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC bought a new position in CSP in the 1st quarter valued at $276,000. Visionary Wealth Advisors grew its holdings in shares of CSP by 3.3% during the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock worth $5,868,000 after purchasing an additional 9,363 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of CSP by 102.4% in the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after buying an additional 207,253 shares in the last quarter. 26.74% of the stock is currently owned by institutional investors.

CSP Trading Up 1.5 %

Shares of CSPI stock opened at $12.67 on Friday. The firm has a market capitalization of $123.58 million, a price-to-earnings ratio of 22.63 and a beta of 1.37. The firm’s 50 day moving average is $13.96 and its 200-day moving average is $15.22. CSP Inc. has a 1 year low of $7.76 and a 1 year high of $29.92.

CSP (NASDAQ:CSPI) last posted its quarterly earnings data on Tuesday, August 13th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $13.11 million for the quarter. CSP had a return on equity of 5.38% and a net margin of 4.42%.

CSP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 23rd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, August 23rd. CSP’s dividend payout ratio is 21.43%.

Insider Buying and Selling

In other CSP news, Director C Shelton James sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $14.25, for a total transaction of $28,500.00. Following the transaction, the director now directly owns 109,606 shares in the company, valued at approximately $1,561,885.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 5,440 shares of company stock worth $75,015 over the last three months. 16.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of CSP from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th.

CSP Profile

CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.