Actuant Co. (NYSE:ATU) – Research analysts at KeyCorp reduced their FY2020 earnings per share estimates for shares of Actuant in a report released on Tuesday, September 17th, according to Zacks Investment Research. KeyCorp analyst J. Hammond now expects that the industrial products company will earn $0.95 per share for the year, down from their previous forecast of $1.04.
ATU has been the subject of a number of other research reports. JPMorgan Chase & Co. downgraded shares of Actuant from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $23.00 to $18.00 in a report on Wednesday, September 11th. Royal Bank of Canada set a $24.00 target price on shares of Actuant and gave the company a “hold” rating in a report on Wednesday, September 18th. G.Research downgraded shares of Actuant from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. ValuEngine downgraded shares of Actuant from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Gabelli lowered shares of Actuant from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a research note on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.53.
Actuant (NYSE:ATU) last released its quarterly earnings data on Thursday, September 26th. The industrial products company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Actuant had a negative net margin of 24.47% and a positive return on equity of 13.49%. The business had revenue of $158.32 million during the quarter, compared to the consensus estimate of $168.57 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue was down 4.9% on a year-over-year basis.
The firm also recently announced an annual dividend, which will be paid on Monday, October 14th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, September 26th. This represents a dividend yield of 0.17%. Actuant’s dividend payout ratio is currently 5.48%.
In other news, Director Deursen Holly Van sold 1,647 shares of Actuant stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $21.20, for a total transaction of $34,916.40. Following the completion of the transaction, the director now directly owns 41,165 shares in the company, valued at approximately $872,698. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cable Hill Partners LLC bought a new position in shares of Actuant during the 1st quarter worth approximately $25,000. Atria Investments LLC bought a new position in shares of Actuant during the 2nd quarter worth approximately $103,000. Marshall Wace LLP bought a new position in shares of Actuant during the 1st quarter worth approximately $118,000. Everence Capital Management Inc. bought a new position in shares of Actuant during the 1st quarter worth approximately $201,000. Finally, Jane Street Group LLC bought a new position in shares of Actuant during the 2nd quarter worth approximately $232,000.
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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