Trade Report: The Adtran Inc. (ADTN) To Go Ex-Dividend on November 1st

The Adtran Inc. (ADTN) To Go Ex-Dividend on November 1st

Adtran Inc. (NASDAQ:ADTN) announced a quarterly dividend on Tuesday, October 18th. Investors of record on Thursday, November 3rd will be paid a dividend of 0.09 per share on Thursday, November 17th. This represents a $0.36 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Tuesday, November 1st.

Shares of Adtran (NASDAQ:ADTN) opened at 18.05 on Monday. The stock has a market cap of $874.88 million, a PE ratio of 26.94 and a beta of 0.95. The company’s 50-day moving average price is $18.78 and its 200-day moving average price is $18.71. Adtran has a one year low of $13.92 and a one year high of $21.43.

Hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Adtran by 0.8% in the second quarter. Arizona State Retirement System now owns 25,445 shares of the company’s stock worth $475,000 after buying an additional 200 shares during the period. Paloma Partners Management Co purchased a new position in shares of Adtran during the second quarter worth about $838,000. A.R.T. Advisors LLC purchased a new position in shares of Adtran during the second quarter worth about $1,060,000. Capstone Investment Advisors LLC purchased a new position in shares of Adtran during the second quarter worth about $450,000. Finally, Guggenheim Capital LLC raised its position in shares of Adtran by 47.7% in the second quarter. Guggenheim Capital LLC now owns 23,181 shares of the company’s stock worth $432,000 after buying an additional 7,486 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

ADTN has been the subject of a number of research reports. MKM Partners reissued a “buy” rating and issued a $24.00 price target on shares of Adtran in a research report on Sunday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Adtran in a research report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $22.05.

Adtran Company Profile

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