Actuant Corp. (NYSE:ATU) shares were up 3% on Friday after an insider bought additional shares in the company. The company traded as high as $22.66 and last traded at $22.32, with a volume of 299,344 shares traded. The stock had previously closed at $21.68.
Specifically, CEO Randal W. Baker bought 10,000 shares of the business’s stock in a transaction dated Tuesday, October 11th. The shares were purchased at an average cost of $22.55 per share, with a total value of $225,500.00. Following the completion of the purchase, the chief executive officer now owns 79,376 shares in the company, valued at approximately $1,789,928.80. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.90% of the stock is owned by insiders.
A number of equities research analysts have recently commented on ATU shares. Wells Fargo & Co. cut Actuant Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, October 7th. Royal Bank Of Canada cut their target price on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, June 23rd. Zacks Investment Research raised Actuant Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Barclays PLC reissued an “equal weight” rating and issued a $20.00 target price on shares of Actuant Corp. in a research note on Tuesday, July 12th. Finally, JPMorgan Chase & Co. cut Actuant Corp. from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $25.00 to $20.00 in a research note on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.67.
The firm’s 50-day moving average price is $22.99 and its 200-day moving average price is $24.46. The stock’s market cap is $1.31 billion.
Actuant Corp. (NYSE:ATU) last released its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm earned $275.77 million during the quarter. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The company’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. On average, analysts forecast that Actuant Corp. will post ($0.01) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.16 annualized dividend and a yield of 0.74%. Actuant Corp.’s dividend payout ratio (DPR) is -2.23%.
A number of hedge funds and other institutional investors have recently made changes to their positions in ATU. State Street Corp increased its position in shares of Actuant Corp. by 0.6% in the first quarter. State Street Corp now owns 1,156,962 shares of the company’s stock valued at $28,585,000 after buying an additional 7,393 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Actuant Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,439,031 shares of the company’s stock valued at $35,558,000 after buying an additional 21,636 shares during the period. HBK Investments L P acquired a new position in shares of Actuant Corp. during the first quarter valued at $1,279,000. Prudential Financial Inc. increased its position in shares of Actuant Corp. by 1.8% in the first quarter. Prudential Financial Inc. now owns 140,932 shares of the company’s stock valued at $3,482,000 after buying an additional 2,500 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Actuant Corp. by 1.1% in the first quarter. BlackRock Group LTD now owns 76,153 shares of the company’s stock valued at $1,883,000 after buying an additional 820 shares during the period.
About Actuant Corp.
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily 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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