Actuant Corp. (NYSE:ATU) was downgraded by equities research analysts at TheStreet from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
ATU has been the subject of several other reports. Royal Bank Of Canada decreased their target price on shares of Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, June 23rd. Zacks Investment Research upgraded shares of Actuant Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Barclays PLC restated an “equal weight” rating and issued a $20.00 target price on shares of Actuant Corp. in a research note on Tuesday, July 12th. JPMorgan Chase & Co. downgraded shares of Actuant Corp. from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $25.00 to $20.00 in a research note on Wednesday, June 22nd. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Actuant Corp. in a report on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the 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 22.33 on Wednesday. The company’s 50-day moving average is $23.30 and its 200 day moving average is $24.53. Actuant Corp. has a 52 week low of $18.47 and a 52 week high of $27.71. The stock’s market cap is $1.32 billion.
Actuant Corp. (NYSE:ATU) last announced its earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The business earned $275.77 million during the quarter. Actuant Corp. had a negative net margin of 8.56% and a positive return on equity of 13.05%. Actuant Corp.’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. Analysts forecast that Actuant Corp. will post ($0.01) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.72%. Actuant Corp.’s dividend payout ratio (DPR) is -2.34%.
In other Actuant Corp. news, CEO Randal W. Baker bought 10,795 shares of the company’s stock in a transaction on Monday, July 11th. The shares were bought at an average cost of $23.14 per share, with a total value of $249,796.30. Following the completion of the acquisition, the chief executive officer now owns 63,979 shares of the company’s stock, valued at $1,480,474.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ATU. BlackRock Inc. raised 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 in the last quarter. Contravisory Investment Management Inc. purchased a new position in Actuant Corp. during the second quarter valued at approximately $122,000. PineBridge Investments L.P. raised its position 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 in the last quarter. Teacher Retirement System of Texas raised its position 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 in the last quarter. Finally, Connable Office Inc. raised 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 in the last quarter.
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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