ADTRAN, Inc. (ADTN) Shares Bought by Chartwell Investment Partners LLC
Chartwell Investment Partners LLC grew its stake in ADTRAN, Inc. (NASDAQ:ADTN) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,475 shares of the communications equipment provider’s stock after buying an additional 4,405 shares during the period. Chartwell Investment Partners LLC owned 0.18% of ADTRAN worth $1,544,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of ADTRAN in the second quarter worth $151,000. Xact Kapitalforvaltning AB acquired a new stake in shares of ADTRAN in the second quarter worth $168,000. SG Americas Securities LLC acquired a new stake in shares of ADTRAN in the third quarter worth $224,000. Zeke Capital Advisors LLC acquired a new stake in shares of ADTRAN in the third quarter worth $267,000. Finally, Raymond James & Associates acquired a new stake in shares of ADTRAN in the second quarter worth $272,000. 94.25% of the stock is owned by institutional investors and hedge funds.
ADTN has been the topic of a number of research reports. ValuEngine upgraded shares of ADTRAN from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Bank of America upgraded shares of ADTRAN from an “underperform” rating to a “neutral” rating in a research note on Thursday, September 13th. MKM Partners raised their price target on shares of ADTRAN from $21.00 to $22.00 in a research report on Thursday, September 13th. BidaskClub lowered shares of ADTRAN from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded shares of ADTRAN from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, October 9th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. ADTRAN has a consensus rating of “Hold” and a consensus target price of $17.89.
ADTRAN (NASDAQ:ADTN) last released its quarterly earnings results on Tuesday, October 16th. The communications equipment provider reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The company had revenue of $140.34 million for the quarter, compared to analyst estimates of $146.00 million. ADTRAN had a negative net margin of 3.94% and a negative return on equity of 2.20%. During the same quarter last year, the business earned $0.33 earnings per share. On average, equities research analysts expect that ADTRAN, Inc. will post -0.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 30th. This represents a $0.36 annualized dividend and a yield of 2.78%. ADTRAN’s dividend payout ratio is presently 40.45%.
ADTRAN Company Profile
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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