Emerald Acquisition Ltd. Takes Position in Actuant Corp. (ATU)
Emerald Acquisition Ltd. acquired a new position in Actuant Corp. (NYSE:ATU) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 94,853 shares of the company’s stock, valued at approximately $2,144,000. Emerald Acquisition Ltd. owned approximately 0.16% of Actuant Corp. as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ATU. Frontier Capital Management Co. LLC increased its stake in Actuant Corp. by 61.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,121,899 shares of the company’s stock valued at $25,366,000 after buying an additional 429,027 shares in the last quarter. Aberdeen Asset Management PLC UK increased its stake in Actuant Corp. by 38.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 840,962 shares of the company’s stock valued at $19,014,000 after buying an additional 231,906 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in Actuant Corp. by 9.6% in the second quarter. Clarkston Capital Partners LLC now owns 1,976,300 shares of the company’s stock valued at $44,684,000 after buying an additional 172,695 shares in the last quarter. HBK Investments L P bought a new stake in Actuant Corp. during the first quarter valued at $1,279,000. Finally, Virginia Retirement System bought a new stake in Actuant Corp. during the first quarter valued at $1,248,000.
Actuant Corp. (NYSE:ATU) traded up 4.08% during trading on Friday, hitting $23.24. 903,671 shares of the company traded hands. The firm’s market cap is $1.37 billion. The company’s 50-day moving average is $23.30 and its 200 day moving average is $24.53. Actuant Corp. has a 52-week low of $18.47 and a 52-week high of $27.71.
Actuant Corp. (NYSE:ATU) last issued its earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm had revenue of $275.77 million for the quarter. Actuant Corp. had a negative net margin of 9.15% and a positive return on equity of 13.22%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. On average, equities analysts anticipate that Actuant Corp. will post ($0.01) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.16 annualized dividend and a yield of 0.72%. Actuant Corp.’s dividend payout ratio (DPR) is -2.23%.
Several analysts have weighed in on ATU shares. Barclays PLC reissued an “equal weight” rating and set a $20.00 target price on shares of Actuant Corp. in a research report on Tuesday, July 12th. Zacks Investment Research raised shares of Actuant Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 12th. Wells Fargo & Co. reissued an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Royal Bank Of Canada dropped their target price on shares of Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, June 23rd. Finally, TheStreet downgraded shares of Actuant Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $23.78.
In related news, CEO Randal W. Baker acquired 10,795 shares of the business’s stock in a transaction on Monday, July 11th. The shares were bought at an average price of $23.14 per share, with a total value of $249,796.30. Following the completion of the acquisition, the chief executive officer now owns 63,979 shares in the company, valued at $1,480,474.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is currently owned by corporate insiders.
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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