SG Americas Securities LLC Purchases New Stake in ADTRAN, Inc. (NASDAQ:ADTN)
SG Americas Securities LLC bought a new position in ADTRAN, Inc. (NASDAQ:ADTN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,713 shares of the communications equipment provider’s stock, valued at approximately $160,000.
A number of other institutional investors also recently added to or reduced their stakes in ADTN. FMR LLC raised its position in shares of ADTRAN by 1.1% in the fourth quarter. FMR LLC now owns 100,051 shares of the communications equipment provider’s stock worth $2,236,000 after buying an additional 1,055 shares during the last quarter. State Street Corp raised its position in shares of ADTRAN by 9.6% in the fourth quarter. State Street Corp now owns 1,187,312 shares of the communications equipment provider’s stock worth $26,537,000 after buying an additional 103,899 shares during the last quarter. TFS Capital LLC acquired a new position in shares of ADTRAN during the first quarter worth about $514,000. First Midwest Bank Trust Division raised its position in shares of ADTRAN by 3.1% in the first quarter. First Midwest Bank Trust Division now owns 20,310 shares of the communications equipment provider’s stock worth $421,000 after buying an additional 612 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in ADTRAN by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the communications equipment provider’s stock valued at $411,000 after buying an additional 300 shares in the last quarter. 90.79% of the stock is currently owned by hedge funds and other institutional investors.
ADTRAN, Inc. (ADTN) traded down 1.54% during mid-day trading on Friday, reaching $22.45. The company’s stock had a trading volume of 328,132 shares. The company has a 50 day moving average of $21.20 and a 200-day moving average of $20.90. ADTRAN, Inc. has a 52-week low of $17.55 and a 52-week high of $24.05. The stock has a market cap of $1.08 billion, a PE ratio of 28.03 and a beta of 0.65.
ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.11. The business had revenue of $184.67 million during the quarter, compared to the consensus estimate of $183.05 million. ADTRAN had a net margin of 5.68% and a return on equity of 8.39%. During the same period in the previous year, the firm posted $0.21 earnings per share. Equities analysts forecast that ADTRAN, Inc. will post $0.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, August 1st. ADTRAN’s dividend payout ratio (DPR) is presently 43.90%.
A number of research analysts recently commented on the company. Cowen and Company reissued a “market perform” rating and issued a $18.00 price target (up previously from $16.00) on shares of ADTRAN in a research note on Saturday, July 22nd. Northland Securities reissued a “buy” rating on shares of ADTRAN in a research note on Friday, July 21st. Zacks Investment Research upgraded ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Friday, July 21st. Needham & Company LLC upped their price objective on ADTRAN from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Finally, MKM Partners restated a “buy” rating and issued a $26.50 price objective (down previously from $27.50) on shares of ADTRAN in a report on Monday, April 24th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. ADTRAN currently has an average rating of “Buy” and a consensus price target of $23.43.
In other news, SVP Michael Foliano sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $23.77, for a total value of $570,480.00. Following the transaction, the senior vice president now owns 5,417 shares in the company, valued at $128,762.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.96% of the stock is currently owned by corporate insiders.
ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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