Wedge Capital Management L L P NC Trims Stake in Actuant Co. (NYSE:ATU)

Wedge Capital Management L L P NC lowered its holdings in Actuant Co. (NYSE:ATU) by 98.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,787 shares of the industrial products company’s stock after selling 644,492 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Actuant were worth $281,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Actuant by 30.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,461 shares of the industrial products company’s stock valued at $98,000 after buying an additional 1,037 shares during the period. Atria Investments LLC purchased a new stake in shares of Actuant in the 2nd quarter valued at $103,000. Marshall Wace LLP purchased a new stake in shares of Actuant in the 1st quarter valued at $118,000. Jane Street Group LLC purchased a new stake in shares of Actuant in the 2nd quarter valued at $232,000. Finally, Zeke Capital Advisors LLC raised its holdings in shares of Actuant by 23.7% in the 3rd quarter. Zeke Capital Advisors LLC now owns 14,641 shares of the industrial products company’s stock valued at $321,000 after buying an additional 2,806 shares during the period.

In related news, Director Deursen Holly Van sold 1,647 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.20, for a total transaction of $34,916.40. Following the completion of the transaction, the director now directly owns 41,165 shares of the company’s stock, valued at approximately $872,698. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company’s stock.

Several research firms recently issued reports on ATU. Robert W. Baird cut their price objective on Actuant from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. ValuEngine downgraded Actuant from a “buy” rating to a “hold” rating in a report on Friday, September 20th. JPMorgan Chase & Co. downgraded Actuant from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $23.00 to $18.00 in a report on Wednesday, September 11th. Gabelli downgraded Actuant from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a report on Tuesday, September 17th. Finally, Royal Bank of Canada set a $24.00 price objective on Actuant and gave the company a “hold” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.53.

ATU remained flat at $$20.79 on Friday. The company had a trading volume of 453,395 shares, compared to its average volume of 711,380. Actuant Co. has a 1 year low of $19.07 and a 1 year high of $27.97. The stock has a market capitalization of $1.28 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 2.27 and a beta of 1.63. The company has a current ratio of 2.43, a quick ratio of 2.17 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average price of $21.87 and a 200-day moving average price of $23.05.

Actuant (NYSE:ATU) last released its earnings results on Thursday, September 26th. The industrial products company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Actuant had a positive return on equity of 13.49% and a negative net margin of 24.47%. The firm had revenue of $158.32 million during the quarter, compared to analysts’ expectations of $168.57 million. During the same period in the previous year, the firm posted $0.39 EPS. Actuant’s revenue for the quarter was down 4.9% on a year-over-year basis. Research analysts forecast that Actuant Co. will post 0.76 earnings per share for the current fiscal year.

Actuant Profile

Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates in two segments, Industrial Tools & Services (IT&S) and Engineered Components & Systems (EC&S). The IT&S segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the industrial, maintenance, infrastructure, oil and gas, energy, and other markets.

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Institutional Ownership by Quarter for Actuant (NYSE:ATU)

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