MTS Systems delays annual report

Article Excerpt

MTS SYSTEMS CORP. $56 (Nasdaq symbol MTSC; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 16.7 million; Market cap: $935.2 million; Price-to-sales ratio: 1.6; Dividend yield: 2.1%; TSINetwork Rating: Average; www.mts.com) makes equipment and software that manufacturers use to test the behaviour of materials, machines and structures. It also makes sensors for industrial equipment. The company is currently investigating the conduct of certain executives at its operations in China. Specifically, those individuals may have collaborated with one of MTS’s competitors. The situation has forced the company to delay filing its annual report for the fiscal year ended September 30, 2016. It now expects to update its earnings by April 24, 2017. MTS Systems is still a hold. hold…