Actuant Corporation (NYSE:ATU) – Equities researchers at Gabelli boosted their FY2021 EPS estimates for shares of Actuant Corporation in a research note issued to investors on Thursday. Gabelli analyst J. Bergner now forecasts that the industrial products company will post earnings of $1.70 per share for the year, up from their prior forecast of $1.65. Gabelli currently has a “Buy” rating on the stock.
Actuant Corporation (NYSE:ATU) last posted its earnings results on Wednesday, September 27th. The industrial products company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). Actuant Corporation had a negative net margin of 6.04% and a positive return on equity of 9.43%. The firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $265.33 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. WARNING: This piece of content was originally reported by Week Herald and is the sole property of of Week Herald. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://weekherald.com/2017/09/30/equities-analysts-issue-forecasts-for-actuant-corporations-fy2021-earnings-atu.html.
A number of other brokerages have also recently issued reports on ATU. KeyCorp reissued a “buy” rating and issued a $29.00 target price (up previously from $28.00) on shares of Actuant Corporation in a report on Monday, September 18th. Barclays PLC raised shares of Actuant Corporation from an “underweight” rating to an “equal weight” rating and set a $20.00 target price on the stock in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Actuant Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Stifel Nicolaus cut their target price on shares of Actuant Corporation from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, June 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $28.00 target price on shares of Actuant Corporation in a report on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. Actuant Corporation currently has an average rating of “Hold” and a consensus target price of $26.11.
Actuant Corporation (NYSE ATU) traded down 0.19% during mid-day trading on Friday, hitting $25.60. The stock had a trading volume of 965,131 shares. The company has a 50-day moving average of $24.07 and a 200-day moving average of $25.26. Actuant Corporation has a 12-month low of $20.54 and a 12-month high of $29.80. The firm’s market cap is $1.53 billion.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Actuant Corporation by 24,997.9% during the first quarter. BlackRock Inc. now owns 7,785,372 shares of the industrial products company’s stock valued at $205,145,000 after buying an additional 7,754,352 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Actuant Corporation by 2.4% during the second quarter. Vanguard Group Inc. now owns 5,249,112 shares of the industrial products company’s stock valued at $129,129,000 after buying an additional 121,842 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of Actuant Corporation by 0.3% during the second quarter. Pzena Investment Management LLC now owns 3,311,551 shares of the industrial products company’s stock valued at $81,464,000 after buying an additional 11,227 shares during the last quarter. Clarkston Capital Partners LLC raised its holdings in shares of Actuant Corporation by 2.7% during the second quarter. Clarkston Capital Partners LLC now owns 2,248,915 shares of the industrial products company’s stock valued at $55,323,000 after buying an additional 58,140 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Actuant Corporation by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,158,705 shares of the industrial products company’s stock valued at $53,104,000 after buying an additional 166,482 shares during the last quarter.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.63%. Actuant Corporation’s dividend payout ratio (DPR) is presently -3.57%.
About Actuant Corporation
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.
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