Zacks Investment Research downgraded shares of Communications Systems, Inc. (NASDAQ:JCS) from a hold rating to a sell rating in a research note issued to investors on Friday.

According to Zacks, “Communications Systems manufactures and markets connectors and wiring devices for voice, data and video communications under the Suttle brand name in the United States and internationally. The company also manufactures a line of high performance fiber-optic connectors, interconnect devices and fiber cable assemblies for the telecommunications, computer and electronics markets. The company has several manufacturing plants in the United States and abroad. “

A number of other brokerages have also recently commented on JCS. Northland Securities set a $6.00 price target on Communications Systems and gave the company a buy rating in a research report on Wednesday, August 23rd. ValuEngine raised Communications Systems from a strong sell rating to a sell rating in a research report on Tuesday, June 6th.

Communications Systems (JCS) opened at 3.61 on Friday. The company’s 50-day moving average is $4.09 and its 200-day moving average is $4.40. Communications Systems has a 12 month low of $3.41 and a 12 month high of $5.80. The company’s market cap is $32.33 million.

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The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 4.43%. Communications Systems’s dividend payout ratio is presently -16.33%.

Several hedge funds and other institutional investors have recently modified their holdings of JCS. Gamco Investors INC. ET AL raised its stake in Communications Systems by 5.2% in the first quarter. Gamco Investors INC. ET AL now owns 754,049 shares of the communications equipment provider’s stock worth $3,318,000 after buying an additional 37,400 shares during the last quarter. Gabelli Funds LLC raised its stake in Communications Systems by 1.3% in the first quarter. Gabelli Funds LLC now owns 396,000 shares of the communications equipment provider’s stock worth $1,742,000 after buying an additional 5,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in Communications Systems by 4.3% in the first quarter. Renaissance Technologies LLC now owns 353,000 shares of the communications equipment provider’s stock worth $1,553,000 after buying an additional 14,600 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Communications Systems by 33.7% in the second quarter. Ameriprise Financial Inc. now owns 29,831 shares of the communications equipment provider’s stock worth $129,000 after buying an additional 7,514 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Communications Systems by 22.1% in the first quarter. Goldman Sachs Group Inc. now owns 27,648 shares of the communications equipment provider’s stock worth $122,000 after buying an additional 5,012 shares during the last quarter. 31.80% of the stock is currently owned by hedge funds and other institutional investors.

About Communications Systems

Communications Systems, Inc (CSI) operates directly and through its subsidiaries located in the United States, Costa Rica and the United Kingdom. The Company operates through three segments: Suttle, Transition Networks and JDL Technologies (JDL). The Company provides physical connectivity infrastructure products and services for global deployments of broadband networks.

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