Credit Suisse AG Has $1.71 Million Stake in Actuant Corporation (NYSE:ATU)
Credit Suisse AG decreased its position in Actuant Corporation (NYSE:ATU) by 40.4% during the first quarter, Holdings Channel reports. The fund owned 64,838 shares of the industrial products company’s stock after selling 43,956 shares during the period. Credit Suisse AG’s holdings in Actuant Corporation were worth $1,709,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of ATU. Bank of New York Mellon Corp boosted its stake in shares of Actuant Corporation by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 687,387 shares of the industrial products company’s stock worth $18,113,000 after buying an additional 28,583 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Actuant Corporation by 7.6% in the first quarter. Great West Life Assurance Co. Can now owns 82,567 shares of the industrial products company’s stock worth $2,171,000 after buying an additional 5,850 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Actuant Corporation during the first quarter worth approximately $30,515,000. Investment Counselors of Maryland LLC boosted its stake in shares of Actuant Corporation by 55.8% in the first quarter. Investment Counselors of Maryland LLC now owns 686,380 shares of the industrial products company’s stock worth $18,086,000 after buying an additional 245,710 shares during the last quarter. Finally, First Midwest Bank Trust Division boosted its stake in shares of Actuant Corporation by 2.6% in the first quarter. First Midwest Bank Trust Division now owns 10,713 shares of the industrial products company’s stock worth $282,000 after buying an additional 273 shares during the last quarter.
Shares of Actuant Corporation (ATU) traded down 1.29% on Friday, hitting $22.95. The stock had a trading volume of 412,638 shares. The firm has a 50 day moving average of $24.24 and a 200 day moving average of $25.79. The stock has a market cap of $1.37 billion, a P/E ratio of 27.32 and a beta of 1.61. Actuant Corporation has a 12 month low of $20.54 and a 12 month high of $29.80.
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 Zacks’ 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 firm had revenue of $295.40 million for the quarter, compared to analyst estimates of $294 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. Actuant Corporation’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts forecast that Actuant Corporation will post $0.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, September 28th. Actuant Corporation’s dividend payout ratio is presently 4.88%.
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A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 price objective on shares of Actuant Corporation in a research note on Tuesday, June 6th. Zacks Investment Research cut shares of Actuant Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 12th. Wolfe Research assumed coverage on shares of Actuant Corporation in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. BidaskClub cut shares of Actuant Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co upgraded Actuant Corporation from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $21.00 in a research report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Actuant Corporation presently has an average rating of “Hold” and a consensus target price 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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