Alambic Investment Management L.P. Purchases New Holdings in ADTRAN, Inc. (ADTN)

Alambic Investment Management L.P. purchased a new position in shares of ADTRAN, Inc. (NASDAQ:ADTN) in the fourth quarter, HoldingsChannel reports. The firm purchased 22,700 shares of the communications equipment provider’s stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. purchased a new position in shares of ADTRAN during the 3rd quarter worth $157,000. Public Employees Retirement System of Ohio grew its holdings in shares of ADTRAN by 5.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock worth $141,000 after purchasing an additional 373 shares during the period. SG Americas Securities LLC purchased a new position in shares of ADTRAN during the 3rd quarter worth $190,000. Crossmark Global Holdings Inc. purchased a new position in shares of ADTRAN during the 3rd quarter worth $211,000. Finally, Macquarie Group Ltd. purchased a new position in shares of ADTRAN during the 3rd quarter worth $227,000. Institutional investors and hedge funds own 91.63% of the company’s stock.

ADTRAN, Inc. (NASDAQ:ADTN) opened at $15.90 on Friday. ADTRAN, Inc. has a 12 month low of $15.65 and a 12 month high of $25.10. The company has a current ratio of 3.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $775.21, a PE ratio of 31.80, a P/E/G ratio of 5.46 and a beta of 0.57.

ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. The firm had revenue of $126.52 million for the quarter, compared to analyst estimates of $125.90 million. analysts forecast that ADTRAN, Inc. will post 0.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, January 30th. ADTRAN’s payout ratio is 72.00%.

ADTN has been the subject of a number of research analyst reports. BidaskClub cut ADTRAN from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a report on Friday, October 20th. MKM Partners lowered their price target on ADTRAN from $27.00 to $25.00 and set a “buy” rating for the company in a report on Friday, December 29th. Goldman Sachs Group upgraded ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 price target for the company in a report on Monday, January 15th. Finally, Cowen reiterated a “hold” rating and set a $16.00 price target on shares of ADTRAN in a report on Friday, December 29th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.41.

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About ADTRAN

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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