Crossmark Global Holdings Inc. bought a new stake in ADTRAN, Inc. (NASDAQ:ADTN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,792 shares of the communications equipment provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADTN. Public Employees Retirement System of Ohio raised its position in ADTRAN by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 373 shares during the period. State of Alaska Department of Revenue raised its position in ADTRAN by 78.0% in the second quarter. State of Alaska Department of Revenue now owns 9,524 shares of the communications equipment provider’s stock valued at $196,000 after purchasing an additional 4,174 shares during the period. Suntrust Banks Inc. purchased a new stake in ADTRAN in the second quarter valued at approximately $208,000. Piedmont Investment Advisors LLC purchased a new stake in ADTRAN in the second quarter valued at approximately $216,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in ADTRAN in the second quarter valued at approximately $273,000. 91.43% of the stock is currently owned by institutional investors.

ADTRAN, Inc. (NASDAQ:ADTN) opened at $22.80 on Monday. The company has a market cap of $1,097.82, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.43. ADTRAN, Inc. has a 12 month low of $18.92 and a 12 month high of $25.10.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.13. The business had revenue of $185.11 million during the quarter, compared to the consensus estimate of $185.43 million. ADTRAN had a net margin of 6.05% and a return on equity of 9.05%. sell-side analysts forecast that ADTRAN, Inc. will post 0.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.36 annualized dividend and a dividend yield of 1.58%. ADTRAN’s dividend payout ratio (DPR) is 40.45%.

ADTN has been the topic of a number of research analyst reports. Zacks Investment Research raised ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Friday, October 20th. BidaskClub raised ADTRAN from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Northland Securities set a $28.00 target price on ADTRAN and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Needham & Company LLC boosted their target price on ADTRAN from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.29.

In related news, SVP Kevin P. Heering sold 9,809 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total transaction of $211,874.40. Following the completion of the transaction, the senior vice president now owns 10,162 shares in the company, valued at $219,499.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Raymond R. Schansman sold 48,056 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $21.70, for a total transaction of $1,042,815.20. Following the transaction, the senior vice president now owns 11,658 shares of the company’s stock, valued at approximately $252,978.60. The disclosure for this sale can be found here. Insiders own 2.96% of the company’s stock.

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ADTRAN 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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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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