Nationwide Fund Advisors Buys 27,942 Shares of ADTRAN, Inc. (ADTN)
Nationwide Fund Advisors lifted its stake in ADTRAN, Inc. (NASDAQ:ADTN) by 14.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,618 shares of the communications equipment provider’s stock after buying an additional 27,942 shares during the period. Nationwide Fund Advisors owned about 0.47% of ADTRAN worth $5,367,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new stake in ADTRAN during the 2nd quarter valued at $728,000. KBC Group NV increased its holdings in ADTRAN by 49.6% during the 2nd quarter. KBC Group NV now owns 51,535 shares of the communications equipment provider’s stock valued at $1,064,000 after purchasing an additional 17,079 shares in the last quarter. Renaissance Technologies LLC increased its holdings in ADTRAN by 25.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock valued at $33,456,000 after purchasing an additional 328,600 shares in the last quarter. State Street Corp increased its holdings in ADTRAN by 4.3% during the 2nd quarter. State Street Corp now owns 1,332,947 shares of the communications equipment provider’s stock valued at $27,527,000 after purchasing an additional 54,671 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in ADTRAN by 46.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 258,431 shares of the communications equipment provider’s stock valued at $5,336,000 after purchasing an additional 82,134 shares in the last quarter. 91.37% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on ADTN shares. Zacks Investment Research cut ADTRAN from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub raised ADTRAN from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Northland Securities reaffirmed a “buy” rating and set a $28.00 price target on shares of ADTRAN in a report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. ADTRAN currently has an average rating of “Hold” and an average price target of $24.29.
ADTRAN, Inc. (NASDAQ:ADTN) opened at $21.80 on Thursday. The company has a market capitalization of $1,059.29, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.43. ADTRAN, Inc. has a 12-month low of $18.92 and a 12-month high of $25.10.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, October 17th. The communications equipment provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. The firm had revenue of $185.11 million for the quarter, compared to analyst estimates of $185.43 million. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. equities research analysts predict that ADTRAN, Inc. will post 0.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.36 dividend on an annualized basis and a yield of 1.65%. ADTRAN’s payout ratio is 40.45%.
In other ADTRAN news, SVP Raymond R. Schansman sold 48,056 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $21.70, for a total value of $1,042,815.20. Following the transaction, the senior vice president now directly owns 11,658 shares in the company, valued at approximately $252,978.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin P. Heering sold 9,809 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $21.60, for a total value of $211,874.40. Following the completion of the transaction, the senior vice president now owns 10,162 shares in the company, valued at $219,499.20. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by company insiders.
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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