Actuant Corp. (ATU) Announces Quarterly Earnings Results
Actuant Corp. (NYSE:ATU) announced its quarterly earnings data on Wednesday. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.00. The firm earned $275.77 million during the quarter, compared to analyst estimates of $300.38 million. Actuant Corp. had a negative net margin of 8.56% and a positive return on equity of 13.05%.
Actuant Corp. (NYSE:ATU) opened at 22.12 on Wednesday. The firm has a 50-day moving average of $23.37 and a 200-day moving average of $24.55. The stock’s market capitalization is $1.30 billion. Actuant Corp. has a 12-month low of $17.02 and a 12-month high of $27.71.
The company 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 $0.04 dividend. The ex-dividend date 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 -2.34%.
In related news, CEO Randal W. Baker bought 10,795 shares of Actuant Corp. stock in a transaction that occurred on Monday, July 11th. The stock was purchased at an average cost of $23.14 per share, for a total transaction of $249,796.30. Following the acquisition, the chief executive officer now owns 63,979 shares in the company, valued at $1,480,474.06. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.90% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Actuant Corp. by 168.5% in the second quarter. BlackRock Inc. now owns 12,526 shares of the company’s stock valued at $284,000 after buying an additional 7,860 shares during the period. Profund Advisors LLC raised its stake in Actuant Corp. by 8.0% in the second quarter. Profund Advisors LLC now owns 20,005 shares of the company’s stock valued at $452,000 after buying an additional 1,483 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Actuant Corp. during the second quarter valued at $551,000. Arizona State Retirement System raised its stake in Actuant Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 30,545 shares of the company’s stock valued at $691,000 after buying an additional 400 shares during the period. Finally, BlackRock Group LTD raised its stake in Actuant Corp. by 6.3% in the second quarter. BlackRock Group LTD now owns 80,953 shares of the company’s stock valued at $1,830,000 after buying an additional 4,800 shares during the period.
Several equities analysts have issued reports on ATU shares. 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. 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 reaffirmed an “equal weight” rating and set a $20.00 price target on shares of Actuant Corp. in a research note on Tuesday, July 12th. JPMorgan Chase & Co. cut shares of Actuant Corp. from a “neutral” rating to an “underweight” rating and lowered their price target for the stock 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 research note on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Actuant Corp. presently has a consensus rating of “Hold” and an average target price of $23.78.
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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