ADTRAN, Inc. (ADTN) Position Boosted by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio increased its stake in ADTRAN, Inc. (NASDAQ:ADTN) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,804 shares of the communications equipment provider’s stock after acquiring an additional 373 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in ADTRAN were worth $141,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in shares of ADTRAN in the second quarter worth approximately $728,000. KBC Group NV lifted its stake in shares of ADTRAN by 49.6% in the second quarter. KBC Group NV now owns 51,535 shares of the communications equipment provider’s stock worth $1,064,000 after acquiring an additional 17,079 shares during the period. Renaissance Technologies LLC lifted its stake in shares of ADTRAN by 25.4% in the second quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock worth $33,456,000 after acquiring an additional 328,600 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of ADTRAN by 46.6% in the second quarter. JPMorgan Chase & Co. now owns 258,431 shares of the communications equipment provider’s stock worth $5,336,000 after acquiring an additional 82,134 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of ADTRAN by 75,959.4% in the first quarter. BlackRock Inc. now owns 5,930,353 shares of the communications equipment provider’s stock worth $123,054,000 after acquiring an additional 5,922,556 shares during the period. 88.79% of the stock is currently owned by institutional investors.
In other news, SVP Kevin P. Heering sold 9,809 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $21.60, for a total transaction of $211,874.40. Following the transaction, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at $219,499.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Raymond R. Schansman sold 48,056 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $21.70, for a total value of $1,042,815.20. Following the transaction, the senior vice president now directly owns 11,658 shares in the company, valued at $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is owned by corporate insiders.
A number of research firms recently commented on ADTN. Needham & Company LLC lifted their price objective on ADTRAN from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. BidaskClub lowered ADTRAN from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Northland Securities set a $28.00 price target on ADTRAN and gave the company a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, Cowen and Company reissued a “market perform” rating and issued a $18.00 price target (up from $16.00) on shares of ADTRAN in a research note on Saturday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.29.
ADTRAN, Inc. (ADTN) opened at $21.25 on Friday. ADTRAN, Inc. has a 12 month low of $18.92 and a 12 month high of $25.10. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1,023.19, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71.
ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.13. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. The firm had revenue of $185.11 million for the quarter, compared to analyst estimates of $185.43 million. equities research analysts anticipate that ADTRAN, Inc. will post 0.88 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Tuesday, October 31st. ADTRAN’s payout ratio is 40.45%.
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.
Want to see what other hedge funds are holding ADTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ADTRAN, Inc. (NASDAQ:ADTN).
Receive News & Stock Ratings for ADTRAN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN Inc. and related stocks with our FREE daily email newsletter.