Actuant Corporation (ATU) Stake Lowered by Swiss National Bank
Swiss National Bank reduced its position in Actuant Corporation (NYSE:ATU) by 3.6% during the third quarter, Holdings Channel reports. The fund owned 95,700 shares of the company’s stock after selling 3,600 shares during the period. Swiss National Bank owned about 0.16% of Actuant Corporation worth $2,224,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Aberdeen Asset Management PLC UK boosted its stake in Actuant Corporation by 38.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 840,962 shares of the company’s stock worth $19,014,000 after buying an additional 231,906 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Actuant Corporation by 63.4% in the third quarter. JPMorgan Chase & Co. now owns 480,347 shares of the company’s stock worth $11,163,000 after buying an additional 186,288 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Actuant Corporation during the second quarter worth $224,000. Prudential Financial Inc. boosted its stake in Actuant Corporation by 1.3% in the second quarter. Prudential Financial Inc. now owns 142,832 shares of the company’s stock worth $3,229,000 after buying an additional 1,900 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Actuant Corporation during the second quarter worth $411,000.
Actuant Corporation (NYSE:ATU) opened at 26.95 on Friday. The stock’s market cap is $1.60 billion. Actuant Corporation has a 1-year low of $20.49 and a 1-year high of $29.80. The firm’s 50 day moving average price is $27.17 and its 200-day moving average price is $24.34.
Actuant Corporation (NYSE:ATU) last posted its earnings results on Wednesday, December 21st. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $266 million for the quarter. Actuant Corporation had a positive return on equity of 12.92% and a negative net margin of 10.42%. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. On average, equities analysts anticipate that Actuant Corporation will post ($0.01) earnings per share for the current year.
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A number of analysts have recently weighed in on ATU shares. Wells Fargo & Company cut Actuant Corporation from an “outperform” rating to a “market perform” rating in a research report on Friday, October 7th. Zacks Investment Research raised Actuant Corporation from a “sell” rating to a “hold” rating and set a $31.00 price target for the company in a research report on Monday, December 19th. Robert W. Baird raised Actuant Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $25.00 to $30.00 in a research report on Monday, November 14th. Aegis started coverage on Actuant Corporation in a research report on Friday, December 2nd. They set a “buy” rating and a $30.00 price target for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $22.00 price target on shares of Actuant Corporation in a research report on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.40.
In other Actuant Corporation news, Director Thomas J. Fischer sold 8,000 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $26.92, for a total value of $215,360.00. Following the completion of the transaction, the director now owns 25,373 shares in the company, valued at $683,041.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ted Wozniak sold 5,000 shares of the company’s stock in a transaction on Friday, December 30th. The shares were sold at an average price of $26.04, for a total transaction of $130,200.00. Following the completion of the transaction, the vice president now owns 87,220 shares of the company’s stock, valued at approximately $2,271,208.80. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.
About Actuant Corporation
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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