Wolfe Research started coverage on shares of Actuant Corporation (NYSE:ATU) in a research report sent to investors on Tuesday, July 11th. The brokerage issued a market perform rating on the industrial products company’s stock.
Other research analysts have also issued research reports about the company. Royal Bank Of Canada restated a hold rating and issued a $28.00 price objective on shares of Actuant Corporation in a report on Tuesday, June 6th. Stifel Nicolaus decreased their price objective on Actuant Corporation from $28.00 to $26.00 and set a hold rating on the stock in a report on Thursday, June 22nd. Gabelli upgraded Actuant Corporation from a hold rating to a buy rating in a report on Thursday, June 22nd. J P Morgan Chase & Co upgraded Actuant Corporation from an underweight rating to a neutral rating and decreased their price objective for the company from $23.00 to $21.00 in a report on Wednesday, June 21st. Finally, Barclays PLC upgraded Actuant Corporation from an underweight rating to an equal weight rating and set a $20.00 price target on the stock in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $27.00.
Actuant Corporation (ATU) traded down 1.29% during trading on Tuesday, hitting $22.95. 412,638 shares of the stock traded hands. The stock has a 50 day moving average price of $24.24 and a 200-day moving average price of $25.82. Actuant Corporation has a 52-week low of $20.54 and a 52-week high of $29.80. 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 (NYSE:ATU) last announced its earnings results on Wednesday, June 21st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $295.40 million for the quarter, compared to analyst estimates of $294 million. Actuant Corporation had a return on equity of 10.58% and a net margin of 4.56%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. On average, analysts anticipate that Actuant Corporation will post $0.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.70%. Actuant Corporation’s dividend payout ratio is presently 4.88%.
Several hedge funds have recently modified their holdings of ATU. Vanguard Group Inc. increased its stake in shares of Actuant Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 5,249,112 shares of the industrial products company’s stock worth $129,129,000 after buying an additional 121,842 shares during the last quarter. Northern Trust Corp increased its stake in shares of Actuant Corporation by 4.9% in the second quarter. Northern Trust Corp now owns 785,472 shares of the industrial products company’s stock worth $19,322,000 after buying an additional 36,390 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Actuant Corporation by 26.6% in the second quarter. UBS Asset Management Americas Inc. now owns 37,442 shares of the industrial products company’s stock worth $921,000 after buying an additional 7,876 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Actuant Corporation by 7.1% in the second quarter. Thrivent Financial For Lutherans now owns 35,970 shares of the industrial products company’s stock worth $885,000 after buying an additional 2,400 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of Actuant Corporation during the second quarter worth about $352,000.
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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