State Board of Administration of Florida Retirement System lowered its stake in shares of Actuant Corp. (NYSE:ATU) by 12.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,634 shares of the company’s stock after selling 7,591 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of Actuant Corp. worth $1,258,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ATU. BlackRock Inc. increased its position in shares of Actuant Corp. by 142.8% in the first quarter. BlackRock Inc. now owns 4,666 shares of the company’s stock valued at $115,000 after buying an additional 2,744 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Actuant Corp. during the second quarter valued at $122,000. Connable Office Inc. increased its position in shares of Actuant Corp. by 0.8% in the first quarter. Connable Office Inc. now owns 8,575 shares of the company’s stock valued at $212,000 after buying an additional 70 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Actuant Corp. during the second quarter valued at $224,000. Finally, First Midwest Bank Trust Division bought a new position in shares of Actuant Corp. during the second quarter valued at $241,000.

Shares of Actuant Corp. (NYSE:ATU) traded down 0.67% on Tuesday, reaching $22.12. The company’s stock had a trading volume of 496,661 shares. The firm has a 50 day moving average price of $23.59 and a 200-day moving average price of $24.62. Actuant Corp. has a 12-month low of $17.02 and a 12-month high of $27.71. The stock’s market cap is $1.30 billion.

Actuant Corp. (NYSE:ATU) last issued its quarterly earnings data on Wednesday, June 22nd. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm earned $305.30 million during the quarter. Actuant Corp. had a positive return on equity of 13.05% and a negative net margin of 8.56%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. Equities research analysts expect that Actuant Corp. will post ($0.01) EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Wednesday, September 28th. Actuant Corp.’s dividend payout ratio (DPR) is currently -2.34%.

Several equities analysts have recently weighed in on ATU shares. Barclays PLC restated an “equal weight” rating and set a $20.00 price target on shares of Actuant Corp. in a report on Tuesday, July 12th. Zacks Investment Research downgraded Actuant Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Topeka Capital Markets assumed coverage on Actuant Corp. in a report on Thursday, May 26th. They issued a “hold” rating and a $26.00 price objective for the company. Wells Fargo & Co. reiterated an “outperform” rating on shares of Actuant Corp. in a report on Friday, June 24th. Finally, Royal Bank Of Canada reduced their price objective on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $23.78.

In related news, CEO Randal W. Baker acquired 10,795 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was purchased at an average cost of $23.14 per share, for a total transaction of $249,796.30. Following the purchase, the chief executive officer now directly owns 63,979 shares of the company’s stock, valued at approximately $1,480,474.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.90% of the company’s stock.

About Actuant Corp.

Actuant Corporation is a global diversified company that designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company is organized into three operating segments: Industrial, Energy and Engineered Solutions. The Industrial segment is 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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