Plexus Corp (NASDAQ:PLXS) CEO Todd P. Kelsey recently sold 1,000 shares of the company's stock, according to the latest Form 4 filing with the Securities and Exchange Commission. The transaction took place on May 28, 2024, with the shares sold at a price of $113.4 each, totaling $113,400.
The sale reduced Kelsey's direct holdings in the company to 103,338 shares following the transaction, as stated in the filing. It is also noted that Kelsey has indirect ownership through Plexus Corp.'s 401(k) Retirement Plan, where additional shares are held.
The reported transaction provides current and potential investors with insight into the CEO's trading activities, allowing them to gauge executive confidence in the company's future prospects. Plexus Corp, headquartered in Neenah, Wisconsin, specializes in printed circuit boards and is a key player in the manufacturing industry.
Investors often monitor insider transactions such as these for indications of the company's health and the executives' perspectives on the stock's value. While the reasons for Kelsey's sale were not disclosed in the filing, such transactions are routine and can be influenced by a variety of factors, including personal financial planning.
Plexus Corp's stock performance and insider transactions continue to be of interest to shareholders and market analysts, as they assess the company's position within the competitive manufacturing sector.
InvestingPro Insights
As Plexus Corp (NASDAQ:PLXS) navigates the competitive manufacturing sector, recent activity by CEO Todd P. Kelsey has caught the attention of shareholders and analysts alike. In light of this development, a closer look at Plexus Corp's financial metrics and analyst outlooks can provide a clearer picture of the company's standing.
InvestingPro data reveals a market capitalization of $3.02 billion, with a Price/Earnings (P/E) ratio currently at 30.07. This valuation metric, although above the industry average, reflects investor expectations for future earnings growth, especially considering the P/E ratio adjusted for the last twelve months as of Q2 2024 stands at a lower figure of 23.06. Despite a decrease in revenue growth of -6.44% over the same period, the company has shown a strong return over the last three months, with a 16.68% increase.
The company's stock is trading near its 52-week high, at 96.69% of the peak, which aligns with the InvestingPro Tip that Plexus Corp generally trades with low price volatility. This stability, paired with the strong three-month return, might be appealing to investors looking for steady performance in their portfolio.
While Plexus Corp does not pay dividends, which might deter income-focused investors, it's worth noting that analysts predict the company will be profitable this year. This is supported by the fact that Plexus was profitable over the last twelve months, as indicated by a basic EPS (Continuing Operations) of $3.69. Furthermore, InvestingPro Tips highlight that the company operates with a moderate level of debt, which may provide some reassurance regarding financial risk management.
For those considering an investment in Plexus Corp, additional insights can be found on InvestingPro, which includes 9 more InvestingPro Tips for a comprehensive analysis. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a deeper dive into the company's performance and prospects.
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