Beddow Capital Management Inc Lowers stake in Sparton Corporation (SPA)

Sparton Corporation (SPA) : Beddow Capital Management Inc reduced its stake in Sparton Corporation by 3.9% during the most recent quarter end. The investment management company now holds a total of 604,196 shares of Sparton Corporation which is valued at $13,407,109 after selling 24,519 shares in Sparton Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Sparton Corporation makes up approximately 5.09% of Beddow Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Integral Derivatives added SPA to its portfolio by purchasing 19,177 company shares during the most recent quarter which is valued at $417,100. Sparton Corporation makes up approx 0.16% of Integral Derivatives’s portfolio.Capital Management Corp Va boosted its stake in SPA in the latest quarter, The investment management firm added 27,300 additional shares and now holds a total of 119,120 shares of Sparton Corporation which is valued at $2,553,933. Sparton Corporation makes up approx 0.94% of Capital Management Corp Va’s portfolio. Simplex Trading added SPA to its portfolio by purchasing 37,213 company shares during the most recent quarter which is valued at $811,616. Sparton Corporation makes up approx 0.10% of Simplex Trading’s portfolio.

Sparton Corporation opened for trading at $23.08 and hit $23.44 on the upside on Tuesday, eventually ending the session at $23.35, with a gain of 1.92% or 0.44 points. The heightened volatility saw the trading volume jump to 25,608 shares. Company has a market cap of $230 M.

On the company’s financial health, Sparton Corporation reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.33. The company had revenue of $102.20 million for the quarter, compared to analysts expectations of $105.16 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Sparton Corporation through its subsidiaries provides design development and manufacturing services for complex electromechanical devices as well as sophisticated engineered products. The Company operates in two segments: Manufacturing & Design Services (MDS) and Engineered Components & Products (ECP). Its MDS segment consists of contract design manufacturing and aftermarket repair and refurbishment of sophisticated printed circuit card assemblies sub-assemblies full product assemblies and cable/wire harnesses. Its ECP segment consists of design development and production of products for both domestic and foreign defense as well as commercial needs. Its products and services include offerings for original equipment manufacturers (OEMs) and emerging technology (ET) customers that utilize microprocessor-based systems which include transducers sensors and electromechanical components as well as development and design engineering services relating to these product sales.

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