Actuant Corp. (ATU) Sees Unusually-High Trading Volume
Actuant Corp. (NYSE:ATU) saw unusually-strong trading volume on Tuesday . Approximately 664,738 shares changed hands during trading, an increase of 69% from the previous session’s volume of 392,964 shares.The stock last traded at $24.55 and had previously closed at $24.64.
Several equities research analysts have weighed in on ATU shares. Barclays PLC reissued an “equal weight” rating and set a $20.00 price target on shares of Actuant Corp. in a research report on Tuesday, July 12th. JPMorgan Chase & Co. cut shares of Actuant Corp. from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $25.00 to $20.00 in a research report on Wednesday, June 22nd. TheStreet raised shares of Actuant Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. Wells Fargo & Co. reissued an “outperform” rating on shares of Actuant Corp. in a research report on Friday, June 24th. Finally, Zacks Investment Research upgraded shares of Actuant Corp. from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $23.78.
The stock has a 50-day moving average of $23.77 and a 200 day moving average of $24.57. The firm’s market capitalization is $1.45 billion.
Actuant Corp. (NYSE:ATU) last announced its quarterly earnings results on Wednesday, June 22nd. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The business earned $305.30 million during the quarter. The business’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. Equities research analysts anticipate that Actuant Corp. will post $1.22 earnings per share for the current 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 paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.65%.
In other news, CEO Randal W. Baker acquired 10,795 shares of the company’s stock in a transaction on Monday, July 11th. The stock was bought at an average cost of $23.14 per share, with a total value of $249,796.30. Following the completion of the purchase, the chief executive officer now directly owns 63,979 shares of the company’s stock, valued at $1,480,474.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A hedge fund recently raised its stake in Actuant Corp. stock. Trexquant Investment LP boosted its stake in Actuant Corp. (NYSE:ATU) by 104.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,409 shares of the company’s stock after buying an additional 26,809 shares during the period. Trexquant Investment LP owned about 0.09% of Actuant Corp. worth $1,256,000 as of its most recent SEC filing.
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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