Great West Life Assurance Co. Can raised its stake in shares of Actuant Corp. (NYSE:ATU) by 3.7% during the third quarter, Holdings Channel reports. The fund owned 81,340 shares of the company’s stock after buying an additional 2,922 shares during the period. Great West Life Assurance Co. Can owned 0.14% of Actuant Corp. worth $1,889,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Actuant Corp. during the second quarter valued at about $122,000. PineBridge Investments L.P. raised its stake in shares of Actuant Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 7,467 shares of the company’s stock valued at $168,000 after buying an additional 269 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of 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. Raymond James Trust N.A. acquired a new stake in shares of Actuant Corp. during the third quarter valued at about $204,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Actuant Corp. during the second quarter valued at about $224,000.
Actuant Corp. (NYSE:ATU) remained flat at $26.55 during mid-day trading on Friday. 268,683 shares of the stock were exchanged. The stock’s market cap is $1.57 billion. The company’s 50-day moving average is $23.59 and its 200-day moving average is $24.10. Actuant Corp. has a one year low of $20.49 and a one year 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, hitting the Thomson Reuters’ consensus estimate of $0.30. Actuant Corp. had a negative net margin of 9.15% and a positive return on equity of 13.22%. The firm had revenue of $275.77 million for the quarter. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Equities research analysts expect that Actuant Corp. will post ($0.01) EPS for the current year.
A number of brokerages have recently commented on ATU. BMO Capital Markets set a $22.00 price objective on shares of Actuant Corp. and gave the company a “hold” rating in a research report on Saturday, October 8th. Wells Fargo & Co. downgraded shares of Actuant Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, October 7th. Zacks Investment Research downgraded shares of Actuant Corp. from a “hold” rating to a “sell” rating in a research report on Friday, September 2nd. Barclays PLC downgraded shares of Actuant Corp. from an “equal weight” rating to an “underweight” rating and set a $19.00 price objective for the company. in a research report on Monday, October 24th. Finally, Robert W. Baird raised shares of Actuant Corp. from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $25.00 to $30.00 in a research report on Monday, November 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Actuant Corp. has a consensus rating of “Hold” and an average target price of $24.22.
In other news, CEO Randal W. Baker bought 10,000 shares of the stock in a transaction dated Tuesday, October 11th. The stock was bought at an average price of $22.55 per share, for a total transaction of $225,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 79,376 shares in the company, valued at approximately $1,789,928.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Randal W. Baker bought 15,000 shares of the stock in a transaction dated Thursday, October 13th. The stock was purchased at an average price of $22.30 per share, with a total value of $334,500.00. Following the acquisition, the chief executive officer now owns 94,376 shares of the company’s stock, valued at $2,104,584.80. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.
Actuant Corp. Company Profile
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.