Actuant Corporation (ATU) Given Average Recommendation of “Hold” by Brokerages
Shares of Actuant Corporation (NYSE:ATU) have been assigned an average rating of “Hold” from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $26.00.
Several analysts have recently weighed in on ATU shares. Zacks Investment Research lowered Actuant Corporation from a “buy” rating to a “hold” rating in a report on Friday, March 24th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $28.00 price target on shares of Actuant Corporation in a research note on Thursday, March 23rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $25.00 price target on shares of Actuant Corporation in a research note on Wednesday, March 22nd. Tudor Pickering initiated coverage on Actuant Corporation in a research note on Thursday, March 23rd. They issued a “hold” rating on the stock. Finally, Barclays PLC raised Actuant Corporation from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a research note on Thursday, June 22nd.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Actuant Corporation by 24,997.9% in the first quarter. BlackRock Inc. now owns 7,785,372 shares of the industrial products company’s stock valued at $205,145,000 after buying an additional 7,754,352 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Actuant Corporation during the first quarter valued at about $30,515,000. Norges Bank acquired a new position in shares of Actuant Corporation during the fourth quarter valued at about $28,871,000. Victory Capital Management Inc. increased its position in shares of Actuant Corporation by 199.3% in the first quarter. Victory Capital Management Inc. now owns 1,497,354 shares of the industrial products company’s stock valued at $39,456,000 after buying an additional 997,034 shares during the last quarter. Finally, First Manhattan Co. increased its position in shares of Actuant Corporation by 59.3% in the first quarter. First Manhattan Co. now owns 2,452,962 shares of the industrial products company’s stock valued at $57,007,000 after buying an additional 913,250 shares during the last quarter.
Shares of Actuant Corporation (NYSE:ATU) traded down 0.20% during midday trading on Monday, reaching $24.55. The company’s stock had a trading volume of 75,904 shares. Actuant Corporation has a 52-week low of $20.54 and a 52-week high of $29.80. The stock has a 50 day moving average price of $25.22 and a 200-day moving average price of $26.40. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 29.23 and a beta of 1.61.
Actuant Corporation (NYSE:ATU) last announced its quarterly earnings data on Wednesday, June 21st. The industrial products company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Actuant Corporation had a return on equity of 10.58% and a net margin of 4.56%. The company had revenue of $295.40 million for the quarter, compared to analyst estimates of $294 million. During the same quarter last year, the firm earned $0.40 EPS. Actuant Corporation’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts expect that Actuant Corporation will post $0.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.65%. Actuant Corporation’s payout ratio is 4.88%.
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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