Meadow Creek Investment Management LLC Has $4.91 Million Stake in Seagate Technology PLC (STX)
Meadow Creek Investment Management LLC grew its position in Seagate Technology PLC (NASDAQ:STX) by 354.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,938 shares of the data storage provider’s stock after acquiring an additional 67,796 shares during the period. Meadow Creek Investment Management LLC’s holdings in Seagate Technology were worth $4,909,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wedge Capital Management L L P NC acquired a new stake in shares of Seagate Technology in the second quarter valued at about $62,387,000. Summit Trail Advisors LLC lifted its stake in shares of Seagate Technology by 4,026.7% in the first quarter. Summit Trail Advisors LLC now owns 1,117,799 shares of the data storage provider’s stock valued at $1,118,000 after purchasing an additional 1,090,712 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Seagate Technology by 90.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,086,825 shares of the data storage provider’s stock valued at $63,602,000 after purchasing an additional 517,277 shares during the period. WBI Investments Inc. lifted its stake in shares of Seagate Technology by 1,068.8% in the second quarter. WBI Investments Inc. now owns 530,734 shares of the data storage provider’s stock valued at $29,971,000 after purchasing an additional 485,327 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Seagate Technology by 63.5% in the second quarter. Canada Pension Plan Investment Board now owns 999,870 shares of the data storage provider’s stock valued at $56,463,000 after purchasing an additional 388,472 shares during the period. 83.35% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Holdings L.P. Valueact bought 581,291 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average cost of $51.36 per share, for a total transaction of $29,855,105.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Valueact Capital Master Fund, bought 946,000 shares of the stock in a transaction that occurred on Thursday, August 2nd. The stock was bought at an average price of $52.78 per share, with a total value of $49,929,880.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 6,207,648 shares of company stock valued at $322,103,805 and sold 145,577 shares valued at $8,405,850. Insiders own 0.87% of the company’s stock.
NASDAQ:STX opened at $53.14 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 2.59. The company has a market capitalization of $16.21 billion, a PE ratio of 9.64, a PEG ratio of 0.73 and a beta of 1.74. Seagate Technology PLC has a 1-year low of $30.89 and a 1-year high of $62.70.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Monday, July 30th. The data storage provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.17. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.80 billion. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. The company’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. research analysts anticipate that Seagate Technology PLC will post 6.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Tuesday, September 18th. Seagate Technology’s dividend payout ratio is presently 45.74%.
About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. Its products are used in enterprise servers and storage systems applications; client compute applications, primarily for desktop and mobile computing; and client non-compute applications, including various end user devices, such as portable external storage systems, surveillance systems, network-attached storage, digital video recorders, and gaming consoles.
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