Actuant Co. (ATU) Expected to Post FY2019 Earnings of $1.50 Per Share
Actuant Co. (NYSE:ATU) – Gabelli lowered their FY2019 earnings estimates for Actuant in a research note issued on Monday. Gabelli analyst J. Bergner now anticipates that the brokerage will post earnings per share of $1.50 for the year, down from their prior forecast of $1.55. Gabelli also issued estimates for Actuant’s FY2020 earnings at $1.70 EPS.
Actuant (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 consensus estimate of $0.29 by $0.01. The firm had revenue of $275.77 million for the quarter. Actuant had a negative net margin of 9.15% and a positive return on equity of 13.22%. Actuant’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS.
ATU has been the topic of a number of other reports. Wells Fargo & Co. lowered shares of Actuant from an “outperform” rating to a “market perform” rating in a research note on Friday. Royal Bank Of Canada decreased their price target on shares of Actuant from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, June 23rd. Zacks Investment Research raised shares of Actuant from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Barclays PLC reaffirmed an “equal weight” rating and set a $20.00 price objective on shares of Actuant in a report on Tuesday, July 12th. Finally, JPMorgan Chase & Co. downgraded shares of Actuant from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $25.00 to $20.00 in a report on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. Actuant presently has an average rating of “Hold” and a consensus price target of $23.67.
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Actuant (NYSE:ATU) traded down 3.05% during midday trading on Tuesday, reaching $22.58. 650,902 shares of the company traded hands. The firm’s 50 day moving average price is $23.17 and its 200 day moving average price is $24.51. Actuant has a 12 month low of $20.49 and a 12 month high of $27.71. The firm’s market capitalization is $1.33 billion.
Several institutional investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. increased its position in Actuant by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,876,283 shares of the company’s stock valued at $110,253,000 after buying an additional 811,365 shares in the last quarter. Vanguard Group Inc. increased its position in Actuant by 6.6% in the second quarter. Vanguard Group Inc. now owns 4,445,392 shares of the company’s stock valued at $100,510,000 after buying an additional 273,973 shares during the period. BlackRock Fund Advisors increased its position in Actuant by 3.4% in the second quarter. BlackRock Fund Advisors now owns 3,893,038 shares of the company’s stock valued at $88,022,000 after buying an additional 129,392 shares during the period. Clarkston Capital Partners LLC increased its position in Actuant by 9.6% in the second quarter. Clarkston Capital Partners LLC now owns 1,976,300 shares of the company’s stock valued at $44,684,000 after buying an additional 172,695 shares during the period. Finally, Vulcan Value Partners LLC increased its position in Actuant by 6.2% in the second quarter. Vulcan Value Partners LLC now owns 1,727,824 shares of the company’s stock valued at $39,066,000 after buying an additional 100,912 shares during the period.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.71%. The ex-dividend date is Wednesday, September 28th. Actuant’s dividend payout ratio (DPR) is currently -2.23%.
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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