Heartland Advisors Inc. grew its holdings in ADTRAN, Inc. (NASDAQ:ADTN) by 88.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,846 shares of the communications equipment provider’s stock after buying an additional 117,984 shares during the period. Heartland Advisors Inc. owned approximately 0.53% of ADTRAN worth $4,427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Royal Bank of Canada lifted its position in shares of ADTRAN by 5,939.2% during the 1st quarter. Royal Bank of Canada now owns 60,392 shares of the communications equipment provider’s stock worth $939,000 after buying an additional 59,392 shares during the period. Principal Financial Group Inc. lifted its position in shares of ADTRAN by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 393,648 shares of the communications equipment provider’s stock worth $6,121,000 after buying an additional 12,969 shares during the period. Xact Kapitalforvaltning AB bought a new position in shares of ADTRAN during the 2nd quarter worth approximately $168,000. Alps Advisors Inc. bought a new position in shares of ADTRAN during the 2nd quarter worth approximately $407,000. Finally, Eqis Capital Management Inc. lifted its position in shares of ADTRAN by 572.5% during the 2nd quarter. Eqis Capital Management Inc. now owns 97,408 shares of the communications equipment provider’s stock worth $1,447,000 after buying an additional 82,923 shares during the period. 94.25% of the stock is owned by institutional investors and hedge funds.

Shares of ADTN opened at $13.41 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 2.82 and a debt-to-equity ratio of 0.06. ADTRAN, Inc. has a 52-week low of $13.02 and a 52-week high of $23.15. The firm has a market capitalization of $649.95 million, a price-to-earnings ratio of 15.07 and a beta of 0.92.

ADTRAN (NASDAQ:ADTN) last issued its quarterly earnings data on Tuesday, October 16th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.17. ADTRAN had a negative return on equity of 2.20% and a negative net margin of 3.94%. The firm had revenue of $140.34 million during the quarter, compared to the consensus estimate of $146.00 million. During the same quarter in the previous year, the company posted $0.33 EPS. On average, equities research analysts forecast that ADTRAN, Inc. will post -0.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $0.36 annualized dividend and a yield of 2.68%. ADTRAN’s payout ratio is 40.45%.

ADTN has been the subject of several research analyst reports. MKM Partners lifted their price objective on ADTRAN from $21.00 to $22.00 in a research report on Thursday, September 13th. BidaskClub downgraded ADTRAN from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, October 9th. Needham & Company LLC cut their price objective on ADTRAN from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, October 18th. They noted that the move was a valuation call. Finally, ValuEngine upgraded ADTRAN from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.89.

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About ADTRAN

ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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