California State Teachers Retirement System trimmed its holdings in ADTRAN, Inc. (NASDAQ:ADTN) by 9.9% in the third quarter, Holdings Channel reports. The institutional investor owned 77,635 shares of the communications equipment provider’s stock after selling 8,493 shares during the period. California State Teachers Retirement System’s holdings in ADTRAN were worth $1,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its position in shares of ADTRAN by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after buying an additional 373 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of ADTRAN by 5.8% in the second quarter. Thrivent Financial For Lutherans now owns 29,050 shares of the communications equipment provider’s stock valued at $600,000 after buying an additional 1,580 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of ADTRAN by 11.1% in the second quarter. Voya Investment Management LLC now owns 24,092 shares of the communications equipment provider’s stock valued at $497,000 after buying an additional 2,416 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of ADTRAN by 2.0% in the second quarter. Parametric Portfolio Associates LLC now owns 155,023 shares of the communications equipment provider’s stock valued at $3,201,000 after buying an additional 3,076 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of ADTRAN by 4.7% in the third quarter. Legal & General Group Plc now owns 95,187 shares of the communications equipment provider’s stock valued at $2,283,000 after buying an additional 4,241 shares during the last quarter. 91.37% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on ADTN. Jefferies Group reaffirmed a “hold” rating and issued a $17.25 price objective on shares of ADTRAN in a research report on Thursday. Northland Securities reaffirmed a “buy” rating and issued a $23.00 price objective on shares of ADTRAN in a research report on Thursday. BidaskClub cut ADTRAN from a “sell” rating to a “strong sell” rating in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective (down from $26.00) on shares of ADTRAN in a research report on Friday, January 12th. Finally, Zacks Investment Research cut ADTRAN from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. ADTRAN currently has an average rating of “Hold” and an average price target of $21.41.

ADTRAN, Inc. (ADTN) opened at $16.67 on Friday. The firm has a market capitalization of $938.92, a P/E ratio of 18.73, a PEG ratio of 2.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.43 and a current ratio of 3.36. ADTRAN, Inc. has a 52 week low of $16.52 and a 52 week high of $25.10.

ADTRAN (NASDAQ:ADTN) last announced its earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.04. The company had revenue of $126.52 million for the quarter, compared to analyst estimates of $125.90 million. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. research analysts expect that ADTRAN, Inc. will post 0.68 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.16%. ADTRAN’s dividend payout ratio (DPR) is currently 40.45%.

In other news, SVP Kevin P. Heering sold 9,809 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $21.60, for a total transaction of $211,874.40. Following the transaction, the senior vice president now owns 10,162 shares in the company, valued at $219,499.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.96% of the stock is currently owned by company insiders.

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ADTRAN 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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Institutional Ownership by Quarter for ADTRAN (NASDAQ:ADTN)

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