Actuant Corporation (NYSE:ATU) – Gabelli raised their FY2020 earnings per share estimates for Actuant Corporation in a research note issued on Friday. Gabelli analyst J. Bergner now expects that the industrial products company will post earnings per share of $1.55 for the year, up from their prior estimate of $1.50. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for Actuant Corporation’s FY2021 earnings at $1.75 EPS.
Actuant Corporation (NYSE:ATU) last posted its quarterly earnings results on Wednesday, September 27th. The industrial products company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $265.33 million. Actuant Corporation had a positive return on equity of 9.43% and a negative net margin of 6.04%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share.
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Several other research firms also recently issued reports on ATU. Robert W. Baird boosted their price objective on shares of Actuant Corporation from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. KeyCorp restated a “buy” rating and set a $29.00 price objective (up previously from $28.00) on shares of Actuant Corporation in a report on Monday, September 18th. SunTrust Banks, Inc. restated a “hold” rating and set a $23.00 price objective on shares of Actuant Corporation in a report on Monday, October 2nd. BMO Capital Markets restated a “market perform” rating and set a $25.00 price objective (up previously from $23.00) on shares of Actuant Corporation in a report on Saturday, September 30th. Finally, Wolfe Research began coverage on shares of Actuant Corporation in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. 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. The stock presently has an average rating of “Hold” and an average target price of $25.44.
Actuant Corporation (NYSE ATU) remained flat at $26.10 during trading on Monday. The stock had a trading volume of 363,424 shares. Actuant Corporation has a 52-week low of $21.40 and a 52-week high of $29.80. The firm has a market capitalization of $1.56 billion, a PE ratio of 31.07 and a beta of 1.62. The company has a 50-day moving average price of $25.19 and a 200-day moving average price of $25.12.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Actuant Corporation by 24,997.9% in the first quarter. BlackRock Inc. now owns 7,785,372 shares of the industrial products company’s stock valued at $205,145,000 after acquiring an additional 7,754,352 shares during the period. Vanguard Group Inc. increased its stake in Actuant Corporation by 2.4% in 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 acquiring an additional 121,842 shares during the period. Pzena Investment Management LLC increased its stake in Actuant Corporation by 0.3% in 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 acquiring an additional 11,227 shares during the period. Clarkston Capital Partners LLC increased its stake in Actuant Corporation by 2.7% in 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 acquiring an additional 58,140 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Actuant Corporation by 8.4% in 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 acquiring an additional 166,482 shares during the period.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.04 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.61%. Actuant Corporation’s payout ratio is currently -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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