Arizona State Retirement System increased its stake in shares of Actuant Co. (NYSE:ATU) by 6.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 94,038 shares of the industrial products company’s stock after buying an additional 5,713 shares during the quarter. Arizona State Retirement System’s holdings in Actuant were worth $1,974,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Actuant by 12.3% in the 2nd quarter. Bank of America Corp DE now owns 323,907 shares of the industrial products company’s stock worth $9,507,000 after acquiring an additional 35,389 shares during the period. Millennium Management LLC purchased a new position in Actuant in the 2nd quarter worth approximately $1,156,000. Northern Trust Corp boosted its holdings in Actuant by 3.9% in the 2nd quarter. Northern Trust Corp now owns 789,188 shares of the industrial products company’s stock worth $23,163,000 after acquiring an additional 29,683 shares during the period. First Hawaiian Bank purchased a new position in Actuant in the 3rd quarter worth approximately $679,000. Finally, Russell Investments Group Ltd. boosted its holdings in Actuant by 22.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 64,625 shares of the industrial products company’s stock worth $1,803,000 after acquiring an additional 11,840 shares during the period.
Actuant stock opened at $23.86 on Thursday. The company has a market cap of $1.38 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.60. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.13 and a quick ratio of 1.66. Actuant Co. has a 52 week low of $19.07 and a 52 week high of $31.00.
Actuant (NYSE:ATU) last released its earnings results on Thursday, December 20th. The industrial products company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The company had revenue of $292.50 million during the quarter, compared to analysts’ expectations of $299.70 million. Actuant had a positive return on equity of 12.58% and a negative net margin of 3.74%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. As a group, analysts forecast that Actuant Co. will post 1.16 earnings per share for the current year.
A number of equities analysts have weighed in on ATU shares. KeyCorp decreased their price target on Actuant from $32.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, December 21st. Maxim Group started coverage on Actuant in a report on Monday, January 28th. They issued a “sell” rating for the company. Robert W. Baird decreased their price target on Actuant from $32.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, December 21st. JPMorgan Chase & Co. upgraded Actuant from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $23.00 in a report on Monday, January 28th. Finally, BMO Capital Markets reduced their target price on Actuant to $22.00 and set a “market perform” rating for the company in a research note on Monday, December 24th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Actuant presently has a consensus rating of “Hold” and an average target price of $25.11.
In other news, VP Roger Roundhouse sold 10,266 shares of the stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $22.59, for a total transaction of $231,908.94. Following the completion of the transaction, the vice president now directly owns 70,476 shares in the company, valued at approximately $1,592,052.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.62% of the company’s stock.
Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates in two segments, Industrial Tools & Services (IT&S) and Engineered Components & Systems (EC&S). The IT&S segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the industrial, maintenance, infrastructure, oil and gas, energy, and other markets.
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