Actuant Corp. (NYSE:ATU) – SunTrust Banks reduced their Q1 2017 EPS estimates for Actuant Corp. in a research note issued on Wednesday. SunTrust Banks analyst C. Brady now forecasts that the brokerage will post earnings per share of $0.17 for the quarter, down from their prior estimate of $0.27. SunTrust Banks also issued estimates for Actuant Corp.’s Q2 2017 earnings at $0.15 EPS, Q3 2017 earnings at $0.40 EPS, Q4 2017 earnings at $0.28 EPS, Q1 2018 earnings at $0.29 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $1.43 EPS.
A number of other research analysts have also issued reports on the stock. Wells Fargo & Co. restated an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Zacks Investment Research upgraded shares of Actuant Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Barclays PLC restated an “equal weight” rating and set a $20.00 target price on shares of Actuant Corp. in a research report on Tuesday, July 12th. JPMorgan Chase & Co. lowered shares of Actuant Corp. from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $25.00 to $20.00 in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada decreased their target price on shares of Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, June 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Actuant Corp. presently has a consensus rating of “Hold” and a consensus price target of $23.78.
Actuant Corp. (NYSE:ATU) opened at 23.24 on Friday. The company has a 50-day moving average of $23.27 and a 200 day moving average of $24.52. Actuant Corp. has a 52-week low of $19.07 and a 52-week high of $27.71. The company’s market cap is $1.37 billion.
Actuant Corp. (NYSE:ATU) last posted its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. Actuant Corp. had a negative net margin of 9.15% and a positive return on equity of 13.22%. The firm earned $275.77 million during the quarter. During the same quarter last year, the firm earned $0.37 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis.
A number of institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. increased its position in shares of Actuant Corp. by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,876,283 shares of the company’s stock valued at $110,253,000 after buying an additional 811,365 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Actuant Corp. by 61.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,121,899 shares of the company’s stock valued at $25,366,000 after buying an additional 429,027 shares during the last quarter. Penn Capital Management Co. Inc. bought a new position in shares of Actuant Corp. during the second quarter valued at approximately $6,653,000. Vanguard Group Inc. increased its position in shares of Actuant Corp. by 6.6% in the second quarter. Vanguard Group Inc. now owns 4,445,392 shares of the company’s stock valued at $100,510,000 after buying an additional 273,973 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Actuant Corp. by 301.8% in the second quarter. Alliancebernstein L.P. now owns 345,337 shares of the company’s stock valued at $7,808,000 after buying an additional 259,393 shares during the last quarter.
In related news, CEO Randal W. Baker acquired 10,795 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was acquired at an average price of $23.14 per share, with a total value of $249,796.30. Following the purchase, the chief executive officer now directly owns 63,979 shares in the company, valued at $1,480,474.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Wednesday, September 28th. Actuant Corp.’s payout ratio is -2.23%.
About Actuant Corp.
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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