Principal Financial Group Inc. boosted its stake in Actuant Corp. (NYSE:ATU) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 427,653 shares of the company’s stock after buying an additional 15,777 shares during the period. Principal Financial Group Inc. owned about 0.73% of Actuant Corp. worth $9,669,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of ATU. BlackRock Inc. raised its stake in Actuant Corp. by 142.8% in the first quarter. BlackRock Inc. now owns 4,666 shares of the company’s stock valued at $115,000 after buying an additional 2,744 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in Actuant Corp. during the second quarter valued at $122,000. Teacher Retirement System of Texas raised its stake in Actuant Corp. by 18.4% in the second quarter. Teacher Retirement System of Texas now owns 8,243 shares of the company’s stock valued at $186,000 after buying an additional 1,283 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Actuant Corp. during the second quarter valued at $224,000. Finally, First Midwest Bank Trust Division bought a new stake in Actuant Corp. during the second quarter valued at $241,000.
Shares of Actuant Corp. (NYSE:ATU) opened at 22.26 on Friday. The company’s 50-day moving average price is $22.94 and its 200-day moving average price is $24.44. The company’s market cap is $1.31 billion. Actuant Corp. has a 12 month low of $20.49 and a 12 month high of $27.71.
Actuant Corp. (NYSE:ATU) last released its quarterly earnings data on Wednesday, September 28th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $275.77 million for the quarter. Actuant Corp. had a positive return on equity of 13.22% and a negative net margin of 9.15%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. Equities analysts forecast that Actuant Corp. will post ($0.01) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Wednesday, September 28th. Actuant Corp.’s dividend payout ratio (DPR) is currently -2.23%.
Several research firms recently weighed in on ATU. BMO Capital Markets set a $22.00 price target on Actuant Corp. and gave the company a “hold” rating in a report on Saturday, October 8th. Zacks Investment Research lowered Actuant Corp. from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Royal Bank Of Canada reduced their target price on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, June 23rd. JPMorgan Chase & Co. lowered Actuant Corp. from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $25.00 to $20.00 in a research note on Wednesday, June 22nd. Finally, TheStreet lowered Actuant Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.67.
In other Actuant Corp. news, CEO Randal W. Baker bought 10,000 shares of Actuant Corp. stock in a transaction on Tuesday, October 11th. The shares were bought at an average price of $22.55 per share, for a total transaction of $225,500.00. Following the completion of the transaction, the chief executive officer now directly owns 79,376 shares of the company’s stock, valued at $1,789,928.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.
About Actuant Corp.
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.