Actuant Corp. (ATU) to Issue Quarterly Dividend of $0.04 on October 14th
Actuant Corp. (NYSE:ATU) announced a quarterly dividend on Tuesday, July 19th. Investors of record on Friday, September 30th will be given a dividend of 0.04 per share on Friday, October 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Wednesday, September 28th.
In other Actuant Corp. news, CEO Randal W. Baker bought 10,795 shares of Actuant Corp. stock in a transaction that occurred on Monday, July 11th. The shares were bought at an average cost of $23.14 per share, with a total value of $249,796.30. Following the transaction, the chief executive officer now directly owns 63,979 shares of the company’s stock, valued at approximately $1,480,474.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Fund Advisors increased its stake in Actuant Corp. by 3.4% in the second quarter. BlackRock Fund Advisors now owns 3,893,038 shares of the company’s stock valued at $88,022,000 after buying an additional 129,392 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Actuant Corp. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,443,789 shares of the company’s stock valued at $32,644,000 after buying an additional 4,758 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Actuant Corp. by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,219,100 shares of the company’s stock valued at $27,564,000 after buying an additional 15,930 shares during the last quarter. Alliancebernstein L.P. increased its stake in Actuant Corp. by 301.8% in the second quarter. Alliancebernstein L.P. now owns 345,337 shares of the company’s stock valued at $7,808,000 after buying an additional 259,393 shares during the last quarter. Finally, Penn Capital Management Co. Inc. purchased a new stake in Actuant Corp. during the second quarter valued at $6,653,000.
Several research analysts have issued reports on ATU shares. Barclays PLC reissued an “equal weight” rating and issued a $20.00 target price on shares of Actuant Corp. in a research report on Tuesday, July 12th. JPMorgan Chase & Co. cut Actuant Corp. from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $25.00 to $20.00 in a research report on Wednesday, June 22nd. Wells Fargo & Co. reissued an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Zacks Investment Research raised Actuant Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Finally, Topeka Capital Markets started coverage on Actuant Corp. in a research report on Thursday, May 26th. They issued a “hold” rating and a $26.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.78.
Shares of Actuant Corp. (NYSE:ATU) opened at 23.00 on Friday. Actuant Corp. has a 52 week low of $17.02 and a 52 week high of $27.71. The company’s 50-day moving average price is $23.50 and its 200 day moving average price is $24.57. The company’s market cap is $1.36 billion.
Actuant Corp. (NYSE:ATU) last announced its earnings results on Wednesday, June 22nd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Actuant Corp. had a positive return on equity of 13.05% and a negative net margin of 8.56%. The company had revenue of $305.30 million for the quarter. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts anticipate that Actuant Corp. will post ($0.01) earnings per share for the current fiscal year.
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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