BNP Paribas Arbitrage SA Increases Stake in ADTRAN, Inc. (ADTN)
BNP Paribas Arbitrage SA increased its position in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 37.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,693 shares of the communications equipment provider’s stock after buying an additional 7,839 shares during the period. BNP Paribas Arbitrage SA owned about 0.06% of ADTRAN worth $689,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ADTN. Teachers Advisors LLC increased its stake in shares of ADTRAN by 1.3% during the first quarter. Teachers Advisors LLC now owns 86,571 shares of the communications equipment provider’s stock valued at $1,796,000 after buying an additional 1,145 shares during the period. Aperio Group LLC increased its stake in shares of ADTRAN by 23.2% during the second quarter. Aperio Group LLC now owns 16,700 shares of the communications equipment provider’s stock valued at $345,000 after buying an additional 3,140 shares during the period. Strs Ohio purchased a new position in shares of ADTRAN during the second quarter valued at $722,000. Municipal Employees Retirement System of Michigan increased its stake in shares of ADTRAN by 6.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 15,620 shares of the communications equipment provider’s stock valued at $322,000 after buying an additional 950 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of ADTRAN by 3.9% during the second quarter. Great West Life Assurance Co. Can now owns 69,636 shares of the communications equipment provider’s stock valued at $1,442,000 after buying an additional 2,600 shares during the period. Hedge funds and other institutional investors own 91.37% of the company’s stock.
ADTRAN, Inc. (NASDAQ ADTN) opened at $22.35 on Wednesday. ADTRAN, Inc. has a 52 week low of $18.92 and a 52 week high of $25.10. The company has a quick ratio of 2.43, a current ratio of 3.36 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1,080.00, a PE ratio of 24.78, a price-to-earnings-growth ratio of 2.59 and a beta of 0.77.
ADTRAN (NASDAQ:ADTN) last posted its earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. The company had revenue of $185.11 million for the quarter, compared to analyst estimates of $185.43 million. equities research analysts expect that ADTRAN, Inc. will post 0.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a $0.09 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.36 annualized dividend and a yield of 1.61%. ADTRAN’s dividend payout ratio (DPR) is presently 40.91%.
Several equities analysts have recently commented on ADTN shares. Northland Securities restated a “buy” rating and set a $28.00 price target on shares of ADTRAN in a research note on Tuesday, September 5th. Needham & Company LLC lifted their target price on ADTRAN from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research lowered ADTRAN from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 23rd. Finally, BidaskClub upgraded ADTRAN from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. ADTRAN currently has a consensus rating of “Hold” and a consensus target price of $24.29.
In other ADTRAN news, SVP Raymond R. Schansman sold 48,056 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $21.70, for a total value of $1,042,815.20. Following the completion of the sale, the senior vice president now owns 11,658 shares of the company’s stock, valued at $252,978.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kevin P. Heering sold 9,809 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $21.60, for a total value of $211,874.40. Following the completion of the sale, the senior vice president now directly owns 10,162 shares of the company’s stock, valued at approximately $219,499.20. The disclosure for this sale can be found here. 2.96% of the stock is owned by insiders.
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ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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