Actuant Corporation (NYSE:ATU) Announces $0.04 Quarterly Dividend
Actuant Corporation (NYSE:ATU) announced a quarterly dividend on Friday, July 14th, RTT News reports. Shareholders of record on Friday, September 29th will be paid a dividend of 0.04 per share by the industrial products company on Monday, October 16th. This represents a $0.16 annualized dividend and a yield of 0.65%.
Actuant Corporation has a payout ratio of 4.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Actuant Corporation to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 3.7%.
Shares of Actuant Corporation (NYSE:ATU) opened at 24.60 on Monday. Actuant Corporation has a one year low of $20.54 and a one year high of $29.80. The firm has a market cap of $1.47 billion, a P/E ratio of 29.29 and a beta of 1.61. The firm’s 50-day moving average price is $25.22 and its 200 day moving average price is $26.40.
Actuant Corporation (NYSE:ATU) last posted 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 business had revenue of $295.40 million for the quarter, compared to analysts’ expectations of $294 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. Analysts predict that Actuant Corporation will post $0.02 EPS for the current year.
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Several research analysts have weighed in on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $28.00 price objective on shares of Actuant Corporation in a research report on Tuesday, June 6th. Stifel Nicolaus dropped their price target on Actuant Corporation from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Thursday, June 22nd. Wolfe Research began coverage on Actuant Corporation in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Gabelli raised Actuant Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, J P Morgan Chase & Co raised Actuant Corporation from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $21.00 in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.00.
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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