Actuant Corp. (ATU) Trading 3% Higher on Insider Buying Activity
Shares of Actuant Corp. (NYSE:ATU) traded up 3% on Friday following insider buying activity. The company traded as high as $22.66 and last traded at $22.32, with a volume of 299,344 shares trading hands. The stock had previously closed at $21.68.
Specifically, CEO Randal W. Baker purchased 10,000 shares of Actuant Corp. stock in a transaction dated Tuesday, October 11th. The shares were bought at an average cost of $22.55 per share, with a total value of $225,500.00. Following the completion of the transaction, the chief executive officer now directly owns 79,376 shares in the company, valued at approximately $1,789,928.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Actuant Corp. from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $25.00 to $20.00 in a research report on Wednesday, June 22nd. Wells Fargo & Co. reissued an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Royal Bank Of Canada reduced 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 report on Thursday, June 23rd. Zacks Investment Research cut shares of Actuant Corp. from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Finally, BMO Capital Markets reissued a “hold” rating and set a $22.00 price target on shares of Actuant Corp. in a research report on Saturday, October 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.67.
The stock’s 50 day moving average is $22.94 and its 200 day moving average is $24.44. The firm’s market cap is $1.31 billion.
Actuant Corp. (NYSE:ATU) last posted its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ 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 quarter last year, the company earned $0.37 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Actuant Corp. will post ($0.01) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Wednesday, September 28th. Actuant Corp.’s dividend payout ratio (DPR) is presently -2.23%.
Several large investors have recently bought and sold shares of the company. Nisa Investment Advisors L.L.C. purchased a new stake in Actuant Corp. during the first quarter valued at $395,000. Prudential Financial Inc. boosted its stake in 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 during the period. BlackRock Inc. boosted its stake in 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 period. BlackRock Group LTD boosted its stake in Actuant Corp. by 1.1% in the first quarter. BlackRock Group LTD now owns 76,153 shares of the company’s stock valued at $1,883,000 after buying an additional 820 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in Actuant Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 3,763,646 shares of the company’s stock valued at $93,000,000 after buying an additional 11,780 shares during the period.
About Actuant Corp.
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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