NorthCoast Asset Management LLC bought a new position in shares of ADTRAN, Inc. (NASDAQ:ADTN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 67,423 shares of the communications equipment provider’s stock, valued at approximately $1,305,000. NorthCoast Asset Management LLC owned 0.14% of ADTRAN as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its holdings in ADTRAN by 5.8% during the second quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock worth $141,000 after acquiring an additional 373 shares during the period. Thrivent Financial For Lutherans increased its stake in ADTRAN by 5.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 29,050 shares of the communications equipment provider’s stock worth $600,000 after purchasing an additional 1,580 shares in the last quarter. Voya Investment Management LLC increased its stake in ADTRAN by 11.1% in the 2nd quarter. Voya Investment Management LLC now owns 24,092 shares of the communications equipment provider’s stock worth $497,000 after purchasing an additional 2,416 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in ADTRAN by 2.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 155,023 shares of the communications equipment provider’s stock worth $3,201,000 after purchasing an additional 3,076 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in ADTRAN by 4.7% in the 3rd quarter. Legal & General Group Plc now owns 95,187 shares of the communications equipment provider’s stock worth $2,283,000 after purchasing an additional 4,241 shares in the last quarter. 88.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. Northland Securities set a $28.00 price target on ADTRAN and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Jefferies Group reissued a “hold” rating and issued a $17.25 price target on shares of ADTRAN in a research note on Thursday, January 18th. TheStreet cut ADTRAN from a “b” rating to a “c+” rating in a research note on Wednesday, January 17th. Goldman Sachs Group raised ADTRAN from a “sell” rating to a “neutral” rating and set a $17.00 price target on the stock in a research note on Monday, January 15th. Finally, BidaskClub raised ADTRAN from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. ADTRAN has an average rating of “Hold” and a consensus price target of $21.41.
Shares of ADTRAN, Inc. (NASDAQ:ADTN) traded down $0.10 during midday trading on Thursday, reaching $16.30. The company’s stock had a trading volume of 438,100 shares, compared to its average volume of 680,321. ADTRAN, Inc. has a 12-month low of $15.65 and a 12-month high of $25.10. The firm has a market cap of $788.45, a price-to-earnings ratio of 33.27, a PEG ratio of 3.42 and a beta of 0.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.98 and a quick ratio of 2.79.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings data on Tuesday, January 16th. The communications equipment provider reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.04. ADTRAN had a return on equity of 7.95% and a net margin of 3.58%. The firm had revenue of $126.52 million during the quarter, compared to analyst estimates of $125.90 million. equities research analysts forecast that ADTRAN, Inc. will post 0.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, January 30th. This represents a $0.36 dividend on an annualized basis and a yield of 2.21%. ADTRAN’s payout ratio is presently 73.47%.
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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