Cipher Capital LP Has $3.90 Million Stake in Actuant Corporation (ATU)
Cipher Capital LP lowered its position in Actuant Corporation (NYSE:ATU) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,674 shares of the industrial products company’s stock after selling 7,768 shares during the period. Cipher Capital LP owned approximately 0.27% of Actuant Corporation worth $3,903,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Actuant Corporation by 16.0% in the first quarter. Bank of Montreal Can now owns 5,035 shares of the industrial products company’s stock worth $132,000 after buying an additional 695 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Actuant Corporation during the first quarter worth about $134,000. Pacad Investment Ltd. raised its position in shares of Actuant Corporation by 30.3% in the second quarter. Pacad Investment Ltd. now owns 5,080 shares of the industrial products company’s stock worth $125,000 after buying an additional 1,180 shares during the last quarter. US Bancorp DE raised its position in shares of Actuant Corporation by 3.2% in the second quarter. US Bancorp DE now owns 6,173 shares of the industrial products company’s stock worth $152,000 after buying an additional 190 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Actuant Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 6,530 shares of the industrial products company’s stock worth $172,000 after buying an additional 150 shares during the last quarter.
Actuant Corporation (NYSE ATU) opened at 24.45 on Friday. Actuant Corporation has a 52 week low of $20.54 and a 52 week high of $29.80. The company has a market cap of $1.46 billion, a P/E ratio of 29.11 and a beta of 1.61. The company has a 50-day moving average of $23.72 and a 200 day moving average of $25.40.
Actuant Corporation (NYSE:ATU) last issued its quarterly earnings data on Wednesday, June 21st. The industrial products company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $295.40 million during the quarter, compared to analysts’ expectations of $294 million. Actuant Corporation had a net margin of 4.56% and a return on equity of 10.58%. Actuant Corporation’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, equities analysts forecast that Actuant Corporation will post $0.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.16 annualized dividend and a yield of 0.65%. Actuant Corporation’s dividend payout ratio is currently 4.88%.
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ATU has been the topic of several analyst reports. BMO Capital Markets increased their price target on shares of Actuant Corporation from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, August 18th. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 price target on shares of Actuant Corporation in a research report on Tuesday, June 6th. BidaskClub lowered shares of Actuant Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Wolfe Research lowered shares of Actuant Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, August 21st. Finally, Zacks Investment Research upgraded shares of Actuant Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Actuant Corporation has a consensus rating of “Hold” and an average target price of $26.78.
Actuant Corporation Company Profile
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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