Randal W. Baker Acquires 15,000 Shares of Actuant Corp. (ATU) Stock
Actuant Corp. (NYSE:ATU) CEO Randal W. Baker purchased 15,000 shares of the stock in a transaction dated Thursday, October 13th. The shares were purchased at an average price of $22.30 per share, with a total value of $334,500.00. Following the completion of the transaction, the chief executive officer now owns 94,376 shares of the company’s stock, valued at $2,104,584.80. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
Actuant Corp. (NYSE:ATU) opened at 22.26 on Wednesday. The firm’s market cap is $1.31 billion. The company’s 50 day moving average is $22.84 and its 200-day moving average is $24.40. Actuant Corp. has a 1-year low of $20.49 and a 1-year high of $27.71.
Actuant Corp. (NYSE:ATU) last posted its quarterly earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The company had revenue of $275.77 million for the quarter. Actuant Corp. had a negative net margin of 9.15% and a positive return on equity of 13.22%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, analysts predict that Actuant Corp. will post ($0.01) EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in Actuant Corp. during the second quarter valued at about $122,000. BNP Paribas Arbitrage SA raised its stake in shares of Actuant Corp. by 92.1% in the second quarter. BNP Paribas Arbitrage SA now owns 20,051 shares of the company’s stock valued at $453,000 after buying an additional 9,613 shares during the period. Boothbay Fund Management LLC raised its stake in shares of Actuant Corp. by 53.5% in the first quarter. Boothbay Fund Management LLC now owns 21,612 shares of the company’s stock valued at $534,000 after buying an additional 7,530 shares during the period. First Republic Investment Management Inc. acquired a new stake in shares of Actuant Corp. during the first quarter valued at $546,000. Finally, Invictus RG raised its stake in shares of Actuant Corp. by 45.1% in the first quarter. Invictus RG now owns 18,844 shares of the company’s stock valued at $466,000 after buying an additional 5,855 shares during the period.
Several research analysts have recently commented on the company. BMO Capital Markets set a $22.00 price target on Actuant Corp. and gave the stock a “hold” rating in a research report on Saturday, October 8th. Zacks Investment Research lowered Actuant Corp. from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Royal Bank Of Canada lowered their price target on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, June 23rd. JPMorgan Chase & Co. lowered 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 report on Wednesday, June 22nd. Finally, TheStreet lowered Actuant Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $23.67.
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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