SunTrust Banks Comments on Actuant Corp.’s Q1 2017 Earnings (ATU)
Actuant Corp. (NYSE:ATU) – Investment analysts at SunTrust Banks decreased their Q1 2017 earnings per share (EPS) estimates for Actuant Corp. in a report issued on Wednesday. SunTrust Banks analyst C. Brady now anticipates that the brokerage will earn $0.17 per share for the quarter, down from their prior forecast of $0.27. SunTrust Banks also issued estimates for Actuant Corp.’s Q2 2017 earnings at $0.15 EPS, Q3 2017 earnings at $0.40 EPS, Q4 2017 earnings at $0.28 EPS, Q1 2018 earnings at $0.29 EPS, Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $1.43 EPS.
Actuant Corp. (NYSE:ATU) last announced its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ 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 period last year, the company posted $0.37 EPS. Actuant Corp.’s revenue for the quarter was down 8.0% on a year-over-year basis.
Other equities analysts have also recently issued research reports about the stock. Barclays PLC reiterated an “equal weight” rating and issued a $20.00 price objective on shares of Actuant Corp. in a research note on Tuesday, July 12th. Zacks Investment Research upgraded shares of Actuant Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Wells Fargo & Co. restated an “outperform” rating on shares of Actuant Corp. in a research note on Friday, June 24th. Royal Bank Of Canada decreased their target price 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. Finally, TheStreet cut shares of Actuant Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Actuant Corp. has an average rating of “Hold” and an average target price of $23.78.
Shares of Actuant Corp. (NYSE:ATU) opened at 23.24 on Friday. The stock’s market cap is $1.37 billion. Actuant Corp. has a 52 week low of $19.07 and a 52 week high of $27.71. The stock has a 50 day moving average of $23.27 and a 200-day moving average of $24.52.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position 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 during the period. Contravisory Investment Management Inc. acquired a new position in Actuant Corp. during the second quarter worth $122,000. PineBridge Investments L.P. raised its position 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 during the period. Teacher Retirement System of Texas raised its position 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 during the period. Finally, Connable Office Inc. raised its position 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 during the period.
In related news, CEO Randal W. Baker acquired 10,795 shares of Actuant Corp. stock in a transaction dated Monday, July 11th. The shares were purchased 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 approximately $1,480,474.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.90% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given 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 is Wednesday, September 28th. Actuant Corp.’s payout ratio is currently -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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