Actuant Corporation (ATU) Stake Lifted by Bank of New York Mellon Corp
Bank of New York Mellon Corp boosted its position in shares of Actuant Corporation (NYSE:ATU) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 701,539 shares of the industrial products company’s stock after acquiring an additional 14,152 shares during the quarter. Bank of New York Mellon Corp owned 1.18% of Actuant Corporation worth $17,258,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ATU. Bank of Montreal Can increased its position in Actuant Corporation by 16.0% during the first quarter. Bank of Montreal Can now owns 5,035 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 695 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Actuant Corporation by 7.6% during the first quarter. Great West Life Assurance Co. Can now owns 82,567 shares of the industrial products company’s stock valued at $2,171,000 after acquiring an additional 5,850 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Actuant Corporation by 2.0% during the first quarter. BNP Paribas Arbitrage SA now owns 12,955 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 256 shares during the last quarter. Swiss National Bank increased its position in Actuant Corporation by 1.5% during the first quarter. Swiss National Bank now owns 97,100 shares of the industrial products company’s stock valued at $2,559,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Actuant Corporation during the first quarter valued at $414,000.
Shares of Actuant Corporation (ATU) opened at 26.35 on Wednesday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 31.37 and a beta of 1.61. The firm’s 50-day moving average price is $24.07 and its 200 day moving average price is $25.26. Actuant Corporation has a 12-month low of $20.54 and a 12-month high of $29.80.
Actuant Corporation (NYSE:ATU) last issued its earnings results on Wednesday, June 21st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $295.40 million during the quarter, compared to analyst estimates of $294.00 million. Actuant Corporation had a return on equity of 10.58% and a net margin of 4.56%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. On average, analysts predict that Actuant Corporation will post $0.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.61%. Actuant Corporation’s payout ratio is currently 4.88%.
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ATU has been the subject of a number of research reports. BidaskClub cut Actuant Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded Actuant Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Wolfe Research cut Actuant Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, August 21st. KeyCorp reiterated a “buy” rating and set a $29.00 price objective (up previously from $28.00) on shares of Actuant Corporation in a research report on Monday. Finally, Barclays PLC upgraded Actuant Corporation from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Actuant Corporation currently has an average rating of “Hold” and a consensus price target of $26.44.
Actuant Corporation Company Profile
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily 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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