ADTRAN, Inc. (ADTN) Stake Boosted by Leucadia National Corp
Leucadia National Corp grew its holdings in ADTRAN, Inc. (NASDAQ:ADTN) by 146.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,628 shares of the communications equipment provider’s stock after purchasing an additional 15,834 shares during the period. Leucadia National Corp’s holdings in ADTRAN were worth $515,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of ADTN. Voya Investment Management LLC increased its stake in shares of ADTRAN by 11.1% in the 2nd quarter. Voya Investment Management LLC now owns 24,092 shares of the communications equipment provider’s stock valued at $497,000 after purchasing an additional 2,416 shares during the last quarter. State Street Corp increased its stake in shares of ADTRAN by 4.3% in 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 during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of ADTRAN by 5.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 373 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of ADTRAN by 14.3% in the 3rd quarter. Nationwide Fund Advisors now owns 223,618 shares of the communications equipment provider’s stock valued at $5,367,000 after purchasing an additional 27,942 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of ADTRAN in the 3rd quarter valued at $1,504,000. Institutional investors own 89.94% of the company’s stock.
Shares of ADTRAN, Inc. (ADTN) opened at $15.55 on Friday. The company has a current ratio of 3.87, a quick ratio of 2.79 and a debt-to-equity ratio of 0.05. ADTRAN, Inc. has a twelve month low of $15.25 and a twelve month high of $25.10. The firm has a market capitalization of $750.57, a price-to-earnings ratio of 31.10, a P/E/G ratio of 3.23 and a beta of 0.56.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Tuesday, January 30th. ADTRAN’s dividend payout ratio (DPR) is 72.00%.
Several equities analysts have recently issued reports on ADTN shares. BidaskClub lowered ADTRAN from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. MKM Partners decreased their price target on ADTRAN from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, December 29th. Northland Securities reiterated a “buy” rating and issued a $23.00 price target on shares of ADTRAN in a research note on Thursday, January 18th. Jefferies Group reissued a “hold” rating and set a $17.25 price objective on shares of ADTRAN in a report on Thursday, January 18th. Finally, Goldman Sachs Group raised ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 price objective on the stock in a report on Monday, January 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. ADTRAN currently has a consensus rating of “Hold” and a consensus target price of $21.41.
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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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