SunTrust Banks Weighs in on Actuant Corp.’s FY2017 Earnings (ATU)
Actuant Corp. (NYSE:ATU) – Investment analysts at SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for Actuant Corp. in a note issued to investors on Wednesday. SunTrust Banks analyst C. Brady now forecasts that the brokerage will earn $1.00 per share for the year, down from their previous forecast of $1.26.
Several other research analysts have also recently issued reports on the stock. BMO Capital Markets restated a “hold” rating on shares of Actuant Corp. in a report on Saturday. TheStreet cut shares of Actuant Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Actuant Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Barclays PLC restated an “equal weight” rating and issued a $20.00 target price on shares of Actuant Corp. in a report on Tuesday, July 12th. Finally, Wells Fargo & Co. restated an “outperform” rating on shares of Actuant Corp. in a report on Friday, June 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Actuant Corp. has an average rating of “Hold” and a consensus target price of $23.78.
Shares of Actuant Corp. (NYSE:ATU) traded up 1.92% during mid-day trading on Monday, hitting $23.90. 121,408 shares of the stock traded hands. Actuant Corp. has a 12-month low of $20.49 and a 12-month high of $27.71. The firm’s market cap is $1.41 billion. The firm’s 50 day moving average price is $23.24 and its 200 day moving average price is $24.53.
Actuant Corp. (NYSE:ATU) last announced its earnings results on Wednesday, September 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Actuant Corp. had a negative net margin of 9.15% and a positive return on equity of 13.22%. The business had revenue of $275.77 million for the quarter. During the same quarter last year, the business earned $0.37 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.68%. Actuant Corp.’s payout ratio is currently -2.23%.
In other news, CEO Randal W. Baker acquired 10,795 shares of the business’s stock in a transaction on Monday, July 11th. The stock was bought at an average price of $23.14 per share, for a total transaction of $249,796.30. Following the transaction, the chief executive officer now owns 63,979 shares in the company, valued at $1,480,474.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Capstone Asset Management Co. increased its position in Actuant Corp. by 0.3% in the second quarter. Capstone Asset Management Co. now owns 17,782 shares of the company’s stock valued at $402,000 after buying an additional 50 shares during the period. Connable Office Inc. increased its position in 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 period. PineBridge Investments L.P. increased its position in Actuant Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 7,467 shares of the company’s stock valued at $168,000 after buying an additional 269 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Actuant Corp. by 2.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 18,280 shares of the company’s stock valued at $452,000 after buying an additional 355 shares during the period. Finally, Arizona State Retirement System increased its position in Actuant Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 30,545 shares of the company’s stock valued at $691,000 after buying an additional 400 shares during the period.
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.
Receive News & Ratings for Actuant Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Actuant Corp. and related companies with MarketBeat.com's FREE daily email newsletter.