BidaskClub downgraded shares of Actuant Corporation (NYSE:ATU) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday morning.
ATU has been the topic of a number of other reports. Zacks Investment Research downgraded Actuant Corporation from a hold rating to a sell rating in a research note on Monday, June 12th. Wolfe Research started coverage on Actuant Corporation in a research note on Tuesday, July 11th. They issued a market perform rating on the stock. Barclays PLC upgraded Actuant Corporation from an underweight rating to an equal weight rating and set a $20.00 price target on the stock in a research note on Thursday, June 22nd. J P Morgan Chase & Co upgraded Actuant Corporation from an underweight rating to a neutral rating and dropped their price target for the stock from $23.00 to $21.00 in a research note on Wednesday, June 21st. Finally, Gabelli upgraded Actuant Corporation from a hold rating to a buy rating in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $26.78.
Shares of Actuant Corporation (ATU) opened at 23.00 on Wednesday. Actuant Corporation has a 52 week low of $20.54 and a 52 week high of $29.80. The firm has a 50 day moving average price of $24.10 and a 200 day moving average price of $25.65. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 27.38 and a beta of 1.61.
Actuant Corporation (NYSE:ATU) last released its quarterly earnings results on Wednesday, June 21st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $295.40 million for the quarter, compared to the consensus estimate of $294 million. Actuant Corporation had a return on equity of 10.58% and a net margin of 4.56%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Equities analysts forecast that Actuant Corporation will post $0.01 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.04 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.70%. Actuant Corporation’s dividend payout ratio is currently 4.88%.
A number of institutional investors have recently made changes to their positions in the company. Pacad Investment Ltd. boosted its position in shares of Actuant Corporation by 30.3% in the second quarter. Pacad Investment Ltd. now owns 5,080 shares of the industrial products company’s stock worth $125,000 after buying an additional 1,180 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Actuant Corporation by 16.0% in the first quarter. Bank of Montreal Can now owns 5,035 shares of the industrial products company’s stock worth $132,000 after buying an additional 695 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Actuant Corporation during the first quarter worth approximately $134,000. US Bancorp DE boosted its position in shares of Actuant Corporation by 3.2% in the second quarter. US Bancorp DE now owns 6,173 shares of the industrial products company’s stock worth $152,000 after buying an additional 190 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Actuant Corporation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 6,530 shares of the industrial products company’s stock worth $172,000 after buying an additional 150 shares in the last quarter.
About Actuant Corporation
Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
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