Actuant Co. (NYSE:ATU) – KeyCorp reduced their FY2019 EPS estimates for shares of Actuant in a research note issued on Thursday. KeyCorp analyst J. Hammond now expects that the industrial products company will earn $1.30 per share for the year, down from their prior estimate of $1.35. KeyCorp has a “Buy” rating and a $29.00 price objective on the stock.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Actuant from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Royal Bank of Canada reissued a “hold” rating and set a $24.00 price objective on shares of Actuant in a research note on Wednesday, October 25th. SunTrust Banks reissued a “hold” rating and set a $23.00 price objective on shares of Actuant in a research note on Monday, October 2nd. BMO Capital Markets reissued a “market perform” rating and set a $25.00 price objective (up previously from $23.00) on shares of Actuant in a research note on Saturday, September 30th. Finally, Robert W. Baird lifted their price objective on Actuant from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.11.
Actuant (NYSE:ATU) last announced its quarterly earnings results on Wednesday, December 20th. The industrial products company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The company had revenue of $289.00 million during the quarter, compared to analysts’ expectations of $269.22 million. Actuant had a positive return on equity of 9.29% and a negative net margin of 5.89%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share.
In other Actuant news, VP Ted Wozniak sold 6,000 shares of Actuant stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $25.66, for a total transaction of $153,960.00. Following the completion of the sale, the vice president now owns 70,705 shares of the company’s stock, valued at $1,814,290.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its stake in shares of Actuant by 4.0% in the 2nd quarter. Amalgamated Bank now owns 8,183 shares of the industrial products company’s stock valued at $201,000 after acquiring an additional 314 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Actuant by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,882 shares of the industrial products company’s stock valued at $1,128,000 after acquiring an additional 505 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Actuant by 10.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,830 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 726 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Actuant by 0.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 161,222 shares of the industrial products company’s stock valued at $3,966,000 after acquiring an additional 1,264 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Actuant by 7.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 35,970 shares of the industrial products company’s stock valued at $885,000 after acquiring an additional 2,400 shares during the last quarter.
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Actuant 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.
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