Public Employees Retirement System of Ohio Holds Stake in ADTRAN, Inc. (ADTN)
Public Employees Retirement System of Ohio maintained its position in shares of ADTRAN, Inc. (NASDAQ:ADTN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,431 shares of the communications equipment provider’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in ADTRAN were worth $133,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in shares of ADTRAN by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,350 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 110 shares during the period. Nordea Investment Management AB increased its position in shares of ADTRAN by 12.8% in the first quarter. Nordea Investment Management AB now owns 7,059 shares of the communications equipment provider’s stock valued at $146,000 after buying an additional 800 shares during the period. SG Americas Securities LLC bought a new position in shares of ADTRAN during the first quarter valued at approximately $160,000. Trexquant Investment LP bought a new position in shares of ADTRAN during the first quarter valued at approximately $220,000. Finally, Mason Street Advisors LLC increased its position in shares of ADTRAN by 7.3% in the first quarter. Mason Street Advisors LLC now owns 11,346 shares of the communications equipment provider’s stock valued at $235,000 after buying an additional 770 shares during the period. Institutional investors own 91.05% of the company’s stock.
Shares of ADTRAN, Inc. (ADTN) remained flat at $21.80 during midday trading on Friday. The company’s stock had a trading volume of 359,184 shares. The company has a 50-day moving average of $21.69 and a 200 day moving average of $20.93. The firm has a market cap of $1.04 billion, a P/E ratio of 27.22 and a beta of 0.65. ADTRAN, Inc. has a 52 week low of $17.55 and a 52 week high of $24.05.
ADTRAN (NASDAQ:ADTN) last released its quarterly earnings data on Tuesday, July 18th. The communications equipment provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.11. The business had revenue of $184.67 million for the quarter, compared to analyst estimates of $183.05 million. ADTRAN had a return on equity of 8.39% and a net margin of 5.68%. During the same period last year, the firm posted $0.21 earnings per share. Equities analysts forecast that ADTRAN, Inc. will post $0.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, August 1st. ADTRAN’s dividend payout ratio (DPR) is presently 43.90%.
ADTN has been the topic of several analyst reports. Needham & Company LLC increased their price target on ADTRAN from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Northland Securities reiterated a “buy” rating and set a $24.00 price target on shares of ADTRAN in a report on Tuesday, July 4th. MKM Partners reiterated a “buy” rating and set a $26.50 price target (down previously from $27.50) on shares of ADTRAN in a report on Monday, April 24th. Argus upgraded ADTRAN from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Thursday, April 20th. Finally, Cowen and Company reiterated a “market perform” rating and set a $18.00 price target (up previously from $16.00) on shares of ADTRAN in a report on Saturday, July 22nd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $23.57.
In related news, SVP Michael Foliano sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $23.77, for a total value of $570,480.00. Following the sale, the senior vice president now directly owns 5,417 shares of the company’s stock, valued at $128,762.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.96% of the company’s stock.
ADTRAN Company Profile
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.
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