Metropolitan Life Insurance Co. NY decreased its holdings in ADTRAN Inc (NASDAQ:ADTN) by 53.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,382 shares of the communications equipment provider’s stock after selling 18,918 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in ADTRAN were worth $317,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vident Investment Advisory LLC boosted its stake in shares of ADTRAN by 78.9% in the fourth quarter. Vident Investment Advisory LLC now owns 17,754 shares of the communications equipment provider’s stock worth $344,000 after acquiring an additional 7,830 shares during the period. Dean Capital Management boosted its stake in ADTRAN by 134.3% during the fourth quarter. Dean Capital Management now owns 210,417 shares of the communications equipment provider’s stock valued at $4,072,000 after buying an additional 120,612 shares during the last quarter. Two Sigma Advisers LP bought a new position in ADTRAN during the fourth quarter valued at approximately $199,000. Stone Ridge Asset Management LLC bought a new position in ADTRAN during the fourth quarter valued at approximately $272,000. Finally, Deutsche Bank AG boosted its stake in ADTRAN by 27.4% during the fourth quarter. Deutsche Bank AG now owns 380,652 shares of the communications equipment provider’s stock valued at $7,363,000 after buying an additional 81,828 shares during the last quarter. 94.01% of the stock is owned by hedge funds and other institutional investors.
Shares of ADTN stock opened at $14.83 on Friday. ADTRAN Inc has a 1 year low of $14.40 and a 1 year high of $25.10. The company has a current ratio of 3.87, a quick ratio of 2.72 and a debt-to-equity ratio of 0.05. The company has a market cap of $768.86, a price-to-earnings ratio of 16.66, a P/E/G ratio of 2.97 and a beta of 0.62.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 16th. Shareholders of record on Wednesday, May 2nd will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 1st. This represents a $0.36 dividend on an annualized basis and a yield of 2.43%. ADTRAN’s dividend payout ratio (DPR) is presently 40.45%.
ADTN has been the subject of a number of research reports. BidaskClub lowered ADTRAN from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. Zacks Investment Research raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. MKM Partners dropped their price target on ADTRAN from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, December 29th. Argus lowered ADTRAN from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Northland Securities reissued a “buy” rating and set a $23.00 price target on shares of ADTRAN in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $20.91.
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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