Actuant Corp. (NYSE:ATU) – Gabelli lowered their FY2019 earnings per share estimates for Actuant Corp. in a research report issued on Monday. Gabelli analyst J. Bergner now forecasts that the brokerage will post earnings per share of $1.50 for the year, down from their prior estimate of $1.55. Gabelli also issued estimates for Actuant Corp.’s FY2020 earnings at $1.70 EPS.
Other equities research analysts have also issued reports about the stock. Barclays PLC restated an “equal weight” rating and issued a $20.00 price objective on shares of Actuant Corp. in a report on Tuesday, July 12th. Zacks Investment Research upgraded shares of Actuant Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 12th. BMO Capital Markets restated a “hold” rating and issued a $22.00 price objective on shares of Actuant Corp. in a report on Saturday, October 1st. Wells Fargo & Co. lowered shares of Actuant Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, October 7th. Finally, Royal Bank Of Canada cut their price target 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 research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Actuant Corp. has a consensus rating of “Hold” and a consensus target price of $23.67.
Shares of Actuant Corp. (NYSE:ATU) traded down 0.31% on Tuesday, hitting $22.51. 500,365 shares of the company’s stock were exchanged. Actuant Corp. has a 12-month low of $20.49 and a 12-month high of $27.71. The company’s 50-day moving average price is $23.11 and its 200 day moving average price is $24.49. The stock’s market cap is $1.33 billion.
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 company had revenue of $275.77 million for the quarter. During the same period in the previous year, the company posted $0.37 earnings per share. Actuant Corp.’s revenue for the quarter was down 8.0% compared to the same quarter last year.
The company also recently announced 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 0.71%. The ex-dividend date of this dividend is Wednesday, September 28th. Actuant Corp.’s payout ratio is -2.23%.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of 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 last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Actuant Corp. during the second quarter valued at $122,000. PineBridge Investments L.P. increased its stake in shares of 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 last quarter. Teacher Retirement System of Texas increased its stake in shares of 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 last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Actuant Corp. during the third quarter valued at $204,000.
Actuant Corp. Company Profile
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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