Acadian Asset Management LLC acquired a new stake in shares of Actuant Corp. (NYSE:ATU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,926 shares of the company’s stock, valued at approximately $224,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Actuant Corp. by 142.8% in the first quarter. BlackRock Inc. now owns 4,666 shares of the company’s stock valued at $115,000 after buying an additional 2,744 shares during the period. Contravisory Investment Management Inc. bought a new position in Actuant Corp. during the second quarter valued at approximately $122,000. Connable Office Inc. increased its position in Actuant Corp. by 0.8% in the first quarter. Connable Office Inc. now owns 8,575 shares of the company’s stock valued at $212,000 after buying an additional 70 shares during the period. Wellington Management Group LLP bought a new position in Actuant Corp. during the first quarter valued at approximately $300,000. Finally, Legal & General Group Plc increased its position in Actuant Corp. by 20.8% in the first quarter. Legal & General Group Plc now owns 14,420 shares of the company’s stock valued at $356,000 after buying an additional 2,485 shares during the period.
Shares of Actuant Corp. (NYSE:ATU) traded down 3.00% during trading on Friday, reaching $22.31. 819,547 shares of the company traded hands. Actuant Corp. has a 52 week low of $17.02 and a 52 week high of $27.71. The company’s market capitalization is $1.31 billion. The firm’s 50 day moving average price is $23.47 and its 200-day moving average price is $24.55.
Actuant Corp. (NYSE:ATU) last posted its earnings results on Wednesday, June 22nd. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of $305.30 million for the quarter. Actuant Corp. had a negative net margin of 8.56% and a positive return on equity of 13.05%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Equities analysts anticipate that Actuant Corp. will post ($0.01) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.72%. Actuant Corp.’s dividend payout ratio is currently -2.34%.
Several research analysts have commented on ATU shares. Barclays PLC reissued an “equal weight” rating and set a $20.00 price objective on shares of Actuant Corp. in a report on Tuesday, July 12th. Zacks Investment Research downgraded shares of Actuant Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Actuant Corp. in a report on Friday, June 24th. Royal Bank Of Canada lowered their price target on shares of Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, June 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Actuant Corp. from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $25.00 to $20.00 in a report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $23.78.
In related news, CEO Randal W. Baker acquired 10,795 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were purchased at an average cost of $23.14 per share, for a total transaction of $249,796.30. Following the acquisition, the chief executive officer now owns 63,979 shares in the company, valued at approximately $1,480,474.06. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.90% of the stock is currently owned by insiders.
Actuant Corp. Company Profile
Actuant Corporation is a global diversified company that designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company is organized into three operating segments: Industrial, Energy and Engineered Solutions. The Industrial segment is involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
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