Actuant Corp. to Post FY2017 Earnings of $1.10 Per Share, Gabelli Forecasts (ATU)
Actuant Corp. (NYSE:ATU) – Equities research analysts at Gabelli dropped their FY2017 earnings estimates for shares of Actuant Corp. in a report issued on Thursday. Gabelli analyst J. Bergner now forecasts that the brokerage will post earnings of $1.10 per share for the year, down from their previous estimate 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.
ATU has been the subject of several other research reports. TheStreet lowered Actuant Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Co. reissued an “outperform” rating on shares of Actuant Corp. in a report on Friday, June 24th. JPMorgan Chase & Co. lowered Actuant Corp. from a “neutral” rating to an “underweight” rating and cut their price target for the company from $25.00 to $20.00 in a report on Wednesday, June 22nd. Barclays PLC reissued an “equal weight” rating and set a $20.00 price target on shares of Actuant Corp. in a report on Tuesday, July 12th. Finally, Zacks Investment Research lowered Actuant Corp. from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $23.78.
Shares of Actuant Corp. (NYSE:ATU) traded up 4.08% during trading on Friday, hitting $23.24. The company had a trading volume of 995,679 shares. The stock’s market capitalization is $1.37 billion. The firm’s 50 day moving average is $23.27 and its 200-day moving average is $24.52. Actuant Corp. has a 52 week low of $19.07 and a 52 week high of $27.71.
Actuant Corp. (NYSE:ATU) last announced its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $275.77 million for the quarter. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.04 dividend. 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 0.69%. Actuant Corp.’s dividend payout ratio is currently -2.23%.
In other news, CEO Randal W. Baker bought 10,795 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were bought at an average cost of $23.14 per share, for a total transaction of $249,796.30. Following the completion of the transaction, the chief executive officer now owns 63,979 shares of the company’s stock, valued at $1,480,474.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.90% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Actuant Corp. by 142.8% in the first quarter. BlackRock Inc. now owns 4,666 shares of the company’s stock worth $115,000 after buying an additional 2,744 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Actuant Corp. during the second quarter worth approximately $122,000. PineBridge Investments L.P. increased its stake in Actuant Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 7,467 shares of the company’s stock worth $168,000 after buying an additional 269 shares in the last quarter. Teacher Retirement System of Texas increased its stake 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 worth $186,000 after buying an additional 1,283 shares in the last quarter. Finally, Connable Office Inc. increased its stake in Actuant Corp. by 0.8% in the first quarter. Connable Office Inc. now owns 8,575 shares of the company’s stock worth $212,000 after buying an additional 70 shares in the last quarter.
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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