Actuant (NYSE:ATU) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01), Briefing.com reports. The company had revenue of $275.20 million during the quarter, compared to the consensus estimate of $267.57 million. Actuant had a negative net margin of 5.89% and a positive return on equity of 9.29%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Actuant updated its Q3 guidance to $0.33-0.38 EPS and its FY18 guidance to $1.00-1.10 EPS.
ATU stock traded down $1.18 during trading on Wednesday, hitting $22.52. 224,663 shares of the stock were exchanged, compared to its average volume of 474,094. Actuant has a 12-month low of $21.50 and a 12-month high of $27.95. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.35 and a current ratio of 1.80. The company has a market cap of $1,404.18, a P/E ratio of -21.35, a PEG ratio of 2.34 and a beta of 1.56.
Separately, Zacks Investment Research upgraded shares of Actuant from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.11.
In other news, VP Ted Wozniak sold 6,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $25.66, for a total value of $153,960.00. Following the sale, the vice president now directly owns 70,705 shares in the company, valued at approximately $1,814,290.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new stake in shares of Actuant in the 4th quarter worth about $240,000. MetLife Investment Advisors LLC purchased a new position in shares of Actuant during the 4th quarter worth about $719,000. MainStreet Investment Advisors LLC purchased a new position in shares of Actuant during the 4th quarter worth about $313,000. Millennium Management LLC purchased a new position in shares of Actuant during the 4th quarter worth about $334,000. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Actuant by 3.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 76,141 shares of the industrial products company’s stock worth $1,926,000 after purchasing an additional 2,517 shares during the period.
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Actuant Corporation designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company operates through three segments: Industrial, Energy and Engineered Solutions. The Company’s Industrial segment is primarily involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
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