Great West Life Assurance Co. Can Reduces Holdings in Actuant Co. (ATU)
Great West Life Assurance Co. Can lowered its position in shares of Actuant Co. (NYSE:ATU) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,881 shares of the industrial products company’s stock after selling 5,636 shares during the period. Great West Life Assurance Co. Can owned 0.13% of Actuant worth $2,040,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. CAPROCK Group Inc. acquired a new position in shares of Actuant during the third quarter worth $326,000. Ironwood Investment Counsel LLC acquired a new position in shares of Actuant during the third quarter worth $385,000. Parametric Portfolio Associates LLC acquired a new position in shares of Actuant during the second quarter worth $4,799,000. Legal & General Group Plc grew its stake in shares of Actuant by 9.0% during the second quarter. Legal & General Group Plc now owns 116,488 shares of the industrial products company’s stock worth $2,864,000 after purchasing an additional 9,590 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Actuant by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 701,539 shares of the industrial products company’s stock worth $17,258,000 after purchasing an additional 14,152 shares in the last quarter.
In related news, VP Ted Wozniak sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $26.19, for a total value of $130,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.
Actuant (NYSE:ATU) last announced its quarterly earnings results on Wednesday, September 27th. The industrial products company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Actuant had a negative net margin of 6.04% and a positive return on equity of 9.43%. The company had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $265.33 million. During the same period last year, the firm earned $0.30 earnings per share. Actuant’s revenue was up .0% on a year-over-year basis. equities analysts predict that Actuant Co. will post 1.08 EPS for the current year.
A number of equities analysts recently commented on ATU shares. KeyCorp reiterated a “buy” rating and set a $29.00 target price on shares of Actuant in a research note on Sunday, November 19th. Royal Bank of Canada reiterated a “hold” rating and set a $24.00 target price on shares of Actuant in a research note on Wednesday, October 25th. BMO Capital Markets reiterated a “market perform” rating and set a $25.00 target price (up previously from $23.00) on shares of Actuant in a research note on Saturday, September 30th. Zacks Investment Research upgraded shares of Actuant from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, SunTrust Banks reiterated a “hold” rating and set a $23.00 target price on shares of Actuant in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $25.00.
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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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