Actuant Corporation (ATU) VP Sells $22,267.92 in Stock
Actuant Corporation (NYSE:ATU) VP Stephen Rennie sold 876 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $25.42, for a total transaction of $22,267.92. Following the completion of the transaction, the vice president now directly owns 54,470 shares of the company’s stock, valued at approximately $1,384,627.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Actuant Corporation (NYSE ATU) opened at 25.90 on Thursday. The company’s market capitalization is $1.55 billion. The stock’s 50 day moving average is $24.83 and its 200 day moving average is $25.17. Actuant Corporation has a 1-year low of $21.40 and a 1-year high of $29.80.
Actuant Corporation (NYSE:ATU) last released its quarterly earnings data on Wednesday, September 27th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $265.33 million. Actuant Corporation had a positive return on equity of 9.43% and a negative net margin of 6.04%. Actuant Corporation’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate that Actuant Corporation will post $0.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 28th. Actuant Corporation’s dividend payout ratio is -3.57%.
Several brokerages have weighed in on ATU. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $23.00 price objective on shares of Actuant Corporation in a research note on Monday. BMO Capital Markets reaffirmed a “market perform” rating and set a $25.00 price objective (up from $23.00) on shares of Actuant Corporation in a research note on Saturday, September 30th. Robert W. Baird upped their price objective on shares of Actuant Corporation from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. BidaskClub cut shares of Actuant Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Finally, Barclays PLC raised shares of Actuant Corporation from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.44.
A number of hedge funds have recently added to or reduced their stakes in ATU. Bank of Montreal Can increased its position in Actuant Corporation by 16.0% during the 1st quarter. Bank of Montreal Can now owns 5,035 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 695 shares in the last quarter. Bank of New York Mellon Corp increased its position in Actuant Corporation by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 687,387 shares of the industrial products company’s stock worth $18,113,000 after purchasing an additional 28,583 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Actuant Corporation by 2.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,955 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 256 shares in the last quarter. Swiss National Bank increased its position in Actuant Corporation by 1.5% during the 1st quarter. Swiss National Bank now owns 97,100 shares of the industrial products company’s stock worth $2,559,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Actuant Corporation during the 1st quarter worth approximately $414,000.
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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