Actuant Corp. (NYSE:ATU) – Stock analysts at Gabelli lowered their FY2017 earnings per share estimates for shares of Actuant Corp. in a report released on Thursday. Gabelli analyst J. Bergner now anticipates that the brokerage will earn $1.10 per share for the year, down from their previous forecast of $1.20. Gabelli also issued estimates for Actuant Corp.’s FY2018 earnings at $1.30 EPS, FY2019 earnings at $1.55 EPS and FY2020 earnings at $1.85 EPS.
Several other equities research analysts have also commented on the stock. TheStreet lowered shares of Actuant Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised shares of 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 set a $20.00 price objective on shares of Actuant Corp. in a research note on Tuesday, July 12th. Wells Fargo & Co. reissued an “outperform” rating on shares of Actuant Corp. in a research note on Friday, June 24th. Finally, Royal Bank Of Canada dropped 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 note on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $23.78.
Shares of Actuant Corp. (NYSE:ATU) traded up 4.769% during midday trading on Friday, hitting $23.395. 556,393 shares of the stock traded hands. The firm’s market capitalization is $1.38 billion. 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.
Actuant Corp. (NYSE:ATU) last issued its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company earned $275.77 million during the quarter. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis.
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 given 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 yield of 0.72%. Actuant Corp.’s dividend payout ratio (DPR) is -2.23%.
In related news, CEO Randal W. Baker acquired 10,795 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were bought at an average price of $23.14 per share, for a total transaction of $249,796.30. Following the completion of the transaction, the chief executive officer now directly owns 63,979 shares in the company, valued at $1,480,474.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake 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 worth $28,585,000 after buying an additional 7,393 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake 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 worth $35,558,000 after buying an additional 21,636 shares in the last quarter. HBK Investments L P acquired a new stake in shares of Actuant Corp. during the first quarter worth approximately $1,279,000. Prudential Financial Inc. boosted its stake 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 worth $3,482,000 after buying an additional 2,500 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake 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 worth $1,883,000 after buying an additional 820 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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