Tieton Capital Management LLC reduced its position in ADTRAN, Inc. (NASDAQ:ADTN) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,099 shares of the communications equipment provider’s stock after selling 12,480 shares during the period. ADTRAN makes up 5.3% of Tieton Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Tieton Capital Management LLC owned about 0.53% of ADTRAN worth $6,122,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of ADTN. Vanguard Group Inc. grew its holdings in ADTRAN by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,434,998 shares of the communications equipment provider’s stock valued at $92,026,000 after buying an additional 252,733 shares in the last quarter. Victory Capital Management Inc. grew its holdings in ADTRAN by 1.5% during the 3rd quarter. Victory Capital Management Inc. now owns 3,890,822 shares of the communications equipment provider’s stock valued at $93,379,000 after buying an additional 56,668 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in ADTRAN by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,001,065 shares of the communications equipment provider’s stock valued at $61,972,000 after buying an additional 130,835 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of ADTRAN by 1.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,776,203 shares of the communications equipment provider’s stock valued at $66,629,000 after acquiring an additional 26,778 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of ADTRAN by 25.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,620,128 shares of the communications equipment provider’s stock valued at $33,456,000 after acquiring an additional 328,600 shares during the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.
A number of analysts have recently issued reports on ADTN shares. Zacks Investment Research upgraded ADTRAN from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research report on Friday, October 20th. BidaskClub upgraded ADTRAN from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Northland Securities set a $28.00 target price on ADTRAN and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Needham & Company LLC boosted their target price on ADTRAN from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $24.29.
ADTRAN, Inc. (ADTN) opened at $22.35 on Wednesday. The stock has a market capitalization of $1,095.40, a P/E ratio of 24.73, a PEG ratio of 2.59 and a beta of 0.77. ADTRAN, Inc. has a 12 month low of $18.92 and a 12 month high of $25.10. 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 (NASDAQ:ADTN) last issued its quarterly earnings results on Tuesday, October 17th. The communications equipment provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.13. The company had revenue of $185.11 million for the quarter, compared to analysts’ expectations of $185.43 million. ADTRAN had a return on equity of 9.05% and a net margin of 6.05%. sell-side analysts anticipate that ADTRAN, Inc. will post 0.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors 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 payout ratio is 40.45%.
In other news, SVP Raymond R. Schansman sold 48,056 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 11,658 shares of the company’s stock, valued at $252,978.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin P. Heering sold 9,809 shares of the stock in a transaction on 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 in the company, valued at $219,499.20. The disclosure for this sale can be found here. Corporate insiders own 2.96% of the company’s stock.
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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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