NJ State Employees Deferred Compensation Plan maintained its position in shares of ADTRAN, Inc. (NASDAQ:ADTN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the communications equipment provider’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in ADTRAN were worth $207,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of ADTRAN by 75,959.4% in the first quarter. BlackRock Inc. now owns 5,930,353 shares of the communications equipment provider’s stock valued at $123,054,000 after buying an additional 5,922,556 shares in the last quarter. Vanguard Group Inc. increased its position in shares of ADTRAN by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,434,998 shares of the communications equipment provider’s stock valued at $92,026,000 after buying an additional 252,733 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of ADTRAN by 10.2% in the first quarter. Victory Capital Management Inc. now owns 3,835,026 shares of the communications equipment provider’s stock valued at $79,577,000 after buying an additional 356,159 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of ADTRAN by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,870,230 shares of the communications equipment provider’s stock valued at $59,558,000 after buying an additional 172,439 shares in the last quarter. Finally, Van Berkom & Associates Inc. increased its position in shares of ADTRAN by 0.4% in the second quarter. Van Berkom & Associates Inc. now owns 2,018,137 shares of the communications equipment provider’s stock valued at $41,675,000 after buying an additional 7,790 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

ADTRAN, Inc. (ADTN) opened at 21.80 on Friday. ADTRAN, Inc. has a one year low of $17.55 and a one year high of $24.05. The stock’s 50 day moving average is $21.64 and its 200 day moving average is $20.93. The firm has a market capitalization of $1.04 billion, a P/E ratio of 27.22 and a beta of 0.65.

ADTRAN (NASDAQ:ADTN) last posted its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.11. ADTRAN had a net margin of 5.68% and a return on equity of 8.39%. The company had revenue of $184.67 million during the quarter, compared to the consensus estimate of $183.05 million. During the same period in the previous year, the firm posted $0.21 EPS. On average, equities research analysts predict that ADTRAN, Inc. will post $0.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Tuesday, August 1st. ADTRAN’s dividend payout ratio is currently 43.90%.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://www.dailypolitical.com/2017/08/11/nj-state-employees-deferred-compensation-plan-continues-to-hold-stake-in-adtran-inc-nasdaqadtn.html.

Several research analysts have commented on ADTN shares. Needham & Company LLC lowered their price objective on shares of ADTRAN from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, April 20th. Zacks Investment Research upgraded shares of ADTRAN from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a research report on Friday, July 21st. Northland Securities restated a “buy” rating on shares of ADTRAN in a research report on Friday, July 21st. MKM Partners restated a “buy” rating and set a $26.50 price objective (down from $27.50) on shares of ADTRAN in a research report on Monday, April 24th. Finally, Cowen and Company restated a “market perform” rating and set a $18.00 price objective (up from $16.00) on shares of ADTRAN in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. ADTRAN currently has an average rating of “Buy” and a consensus price target of $23.57.

In other news, SVP Michael Foliano sold 24,000 shares of ADTRAN stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $23.77, for a total transaction of $570,480.00. Following the completion of the sale, the senior vice president now directly owns 5,417 shares of the company’s stock, valued at approximately $128,762.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.96% of the company’s stock.

About ADTRAN

ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.

Want to see what other hedge funds are holding ADTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ADTRAN, Inc. (NASDAQ:ADTN).

Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

Receive News & Ratings for ADTRAN Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ADTRAN Inc. and related companies with MarketBeat.com's FREE daily email newsletter.