ADTRAN, Inc. (ADTN) Position Raised by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan lifted its holdings in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 42.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,300 shares of the communications equipment provider’s stock after buying an additional 6,680 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in ADTRAN were worth $535,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADTN. Public Employees Retirement System of Ohio lifted its holdings in ADTRAN by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after acquiring an additional 373 shares during the period. Thompson Davis & CO. Inc. bought a new position in ADTRAN in the third quarter valued at about $157,000. Suntrust Banks Inc. bought a new position in ADTRAN in the second quarter valued at about $208,000. Crossmark Global Holdings Inc. bought a new position in ADTRAN in the third quarter valued at about $211,000. Finally, Piedmont Investment Advisors LLC bought a new position in ADTRAN in the second quarter valued at about $216,000. 91.37% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on ADTN. Zacks Investment Research downgraded ADTRAN from a “strong-buy” rating to a “hold” rating in a report on Monday, October 23rd. Northland Securities set a $28.00 price objective on ADTRAN and gave the stock a “buy” rating in a research note on Wednesday, October 18th. BidaskClub raised ADTRAN from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, Needham & Company LLC raised their price objective on ADTRAN from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. ADTRAN has a consensus rating of “Hold” and an average price target of $24.29.

In related news, SVP Kevin P. Heering sold 9,809 shares of ADTRAN stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $21.60, for a total transaction of $211,874.40. Following the sale, the senior vice president now owns 10,162 shares of the company’s stock, valued at approximately $219,499.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Raymond R. Schansman sold 48,056 shares of ADTRAN stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $21.70, for a total value of $1,042,815.20. Following the sale, the senior vice president now directly owns 11,658 shares in the company, valued at approximately $252,978.60. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by company insiders.

ADTRAN, Inc. (NASDAQ ADTN) opened at $22.75 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.43. ADTRAN, Inc. has a 12 month low of $18.92 and a 12 month high of $25.10. The company has a market capitalization of $1,097.81, a PE ratio of 24.78, a PEG ratio of 2.59 and a beta of 0.77.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. The firm had revenue of $185.11 million for the quarter, compared to the consensus estimate of $185.43 million. research analysts expect that ADTRAN, Inc. will post 0.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.58%. The ex-dividend date was Tuesday, October 31st. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.

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ADTRAN Profile

ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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