KeyCorp Comments on Actuant Corp.’s Q2 2017 Earnings (ATU)
Actuant Corp. (NYSE:ATU) – Research analysts at KeyCorp issued their Q2 2017 earnings per share estimates for shares of Actuant Corp. in a research note issued on Wednesday. KeyCorp analyst J. Hammond forecasts that the firm will post earnings of $0.16 per share for the quarter. KeyCorp also issued estimates for Actuant Corp.’s Q3 2017 earnings at $0.38 EPS, Q4 2017 earnings at $0.33 EPS and FY2017 earnings at $1.05 EPS.
Several other research analysts have also recently weighed in on the company. TheStreet cut Actuant Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised 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 target price on shares of Actuant Corp. in a research note on Tuesday, July 12th. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Actuant Corp. in a research note on Friday, June 24th. Finally, Royal Bank Of Canada decreased their target price on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, June 23rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Actuant Corp. has a consensus rating of “Hold” and a consensus target price of $23.78.
Shares of Actuant Corp. (NYSE:ATU) opened at 23.24 on Friday. Actuant Corp. has a one year low of $19.07 and a one year high of $27.71. The stock’s market cap is $1.37 billion. The stock’s 50 day moving average price is $23.27 and its 200-day moving average price is $24.52.
Actuant Corp. (NYSE:ATU) last issued its earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The business earned $275.77 million during the quarter. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year.
Large investors have recently made changes to their positions in the company. Nisa Investment Advisors L.L.C. acquired a new stake in shares of Actuant Corp. during the first quarter valued at about $395,000. Virginia Retirement System acquired a new stake in shares of Actuant Corp. during the first quarter valued at about $1,248,000. Prudential Financial Inc. increased 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 valued at $3,482,000 after buying an additional 2,500 shares in the last quarter. Connable Office Inc. increased its stake in shares of 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. Finally, 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 in the last quarter.
In other Actuant Corp. news, CEO Randal W. Baker acquired 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, with a total value of $249,796.30. Following the purchase, the chief executive officer now owns 63,979 shares in the company, valued at $1,480,474.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.
The business 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 dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, September 28th. Actuant Corp.’s dividend payout ratio is -2.23%.
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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