Actuant Co. (ATU) Holdings Boosted by Raymond James & Associates
Raymond James & Associates grew its position in shares of Actuant Co. (NYSE:ATU) by 21.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 605,047 shares of the industrial products company’s stock after buying an additional 104,848 shares during the quarter. Raymond James & Associates’ holdings in Actuant were worth $14,745,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Quantamental Technologies LLC bought a new position in shares of Actuant during the 1st quarter worth approximately $80,000. PNC Financial Services Group Inc. raised its holdings in shares of Actuant by 14.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,479 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 568 shares during the period. Bank of Montreal Can raised its holdings in shares of Actuant by 14.3% in the 4th quarter. Bank of Montreal Can now owns 6,234 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 778 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Actuant in the 1st quarter worth approximately $201,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Actuant in the 1st quarter worth approximately $236,000.
A number of research firms recently commented on ATU. Maxim Group reaffirmed a “positive” rating on shares of Actuant in a report on Thursday, March 21st. GMP Securities reaffirmed a “buy” rating and issued a $0.75 price target on shares of Actuant in a report on Wednesday, May 8th. JPMorgan Chase & Co. raised shares of Actuant from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $19.00 to $23.00 in a report on Monday, January 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $21.00 price target on shares of Actuant in a report on Monday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.42.
Actuant (NYSE:ATU) last released its quarterly earnings results on Thursday, March 21st. The industrial products company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $271.90 million during the quarter, compared to analyst estimates of $274.44 million. Actuant had a negative net margin of 1.97% and a positive return on equity of 13.28%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. Sell-side analysts forecast that Actuant Co. will post 1.17 EPS for the current fiscal year.
Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates in two segments, Industrial Tools & Services (IT&S) and Engineered Components & Systems (EC&S). The IT&S segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the industrial, maintenance, infrastructure, oil and gas, energy, and other markets.
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