Several other research firms have also commented on ATU. JPMorgan Chase & Co. lowered shares of Actuant Corp. from a neutral rating to an underweight rating and reduced their price target for the company from $25.00 to $20.00 in a report on Wednesday, June 22nd. Zacks Investment Research downgraded shares of Actuant Corp. from a buy rating to a hold rating in a research report on Tuesday, May 31st. Wells Fargo & Co. reaffirmed an outperform rating on shares of Actuant Corp. in a research report on Friday, June 24th. Royal Bank Of Canada cut their price objective 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. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $20.00 price objective on shares of Actuant Corp. in a research report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $23.78.
Shares of Actuant Corp. (NYSE:ATU) opened at 23.58 on Wednesday. The stock has a 50 day moving average price of $23.27 and a 200 day moving average price of $24.54. The firm’s market capitalization is $1.39 billion. Actuant Corp. has a 52 week low of $20.49 and a 52 week high of $27.71.
Actuant Corp. (NYSE:ATU) last posted its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 EPS for the quarter, beating 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 business earned $275.77 million during the quarter. During the same quarter in the prior year, the firm posted $0.37 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts forecast that Actuant Corp. will post ($0.01) EPS for the current year.
The firm 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. This represents a $0.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Wednesday, September 28th. Actuant Corp.’s dividend payout ratio (DPR) is currently -2.23%.
In other Actuant Corp. news, CEO Randal W. Baker acquired 10,795 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were acquired at an average cost of $23.14 per share, with a total value of $249,796.30. Following the acquisition, the chief executive officer now directly owns 63,979 shares of the company’s stock, valued at $1,480,474.06. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.90% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake 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. acquired a new stake in Actuant Corp. during the second quarter valued at approximately $122,000. PineBridge Investments L.P. increased its stake in Actuant Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 7,467 shares of the company’s stock valued at $168,000 after buying an additional 269 shares during the period. Teacher Retirement System of Texas increased its stake in Actuant Corp. by 18.4% in the second quarter. Teacher Retirement System of Texas now owns 8,243 shares of the company’s stock valued at $186,000 after buying an additional 1,283 shares during the period. Finally, Connable Office Inc. increased its stake 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.
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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