NWQ Investment Management Company LLC purchased a new stake in shares of Astronics Co. (NASDAQ:ATRO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 351,588 shares of the aerospace company’s stock, valued at approximately $14,580,000. NWQ Investment Management Company LLC owned approximately 1.26% of Astronics at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of ATRO. Aperio Group LLC acquired a new stake in Astronics in the fourth quarter worth $283,000. Teacher Retirement System of Texas acquired a new stake in Astronics in the fourth quarter worth $308,000. Unison Advisors LLC acquired a new stake in Astronics in the fourth quarter worth $313,000. BlueCrest Capital Management Ltd bought a new position in shares of Astronics in the fourth quarter worth $326,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Astronics in the fourth quarter worth $328,000. 69.08% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Mark Peabody sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $38.52, for a total transaction of $77,040.00. Following the completion of the transaction, the vice president now owns 19,368 shares of the company’s stock, valued at $746,055.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 12,000 shares of company stock valued at $495,540 in the last ninety days. Company insiders own 16.45% of the company’s stock.
Astronics Co. (NASDAQ:ATRO) opened at $40.09 on Wednesday. Astronics Co. has a 52 week low of $23.95 and a 52 week high of $49.45. The stock has a market capitalization of $1,138.88, a price-to-earnings ratio of 61.68, a PEG ratio of 2.32 and a beta of 1.58. The company has a quick ratio of 1.60, a current ratio of 3.06 and a debt-to-equity ratio of 0.82.
Astronics (NASDAQ:ATRO) last announced its earnings results on Monday, February 26th. The aerospace company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.03). Astronics had a net margin of 3.15% and a return on equity of 10.82%. The firm had revenue of $171.32 million for the quarter, compared to the consensus estimate of $179.33 million. research analysts expect that Astronics Co. will post 1.75 EPS for the current year.
Astronics declared that its Board of Directors has authorized a stock buyback plan on Monday, December 18th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
TRADEMARK VIOLATION NOTICE: This report was first posted by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/03/14/351588-shares-in-astronics-co-atro-acquired-by-nwq-investment-management-company-llc.html.
Astronics Company Profile
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
Receive News & Ratings for Astronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astronics and related companies with MarketBeat.com's FREE daily email newsletter.