JPMorgan Chase & Co. lowered its stake in shares of Actuant Co. (NYSE:ATU) by 49.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 260,266 shares of the industrial products company’s stock after selling 256,668 shares during the period. JPMorgan Chase & Co.’s holdings in Actuant were worth $6,343,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in ATU. Bank of Montreal Can grew its stake 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 buying an additional 778 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Actuant by 6.5% in the 4th quarter. Arizona State Retirement System now owns 94,038 shares of the industrial products company’s stock worth $1,974,000 after buying an additional 5,713 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Actuant by 19.8% in the 4th quarter. Rhumbline Advisers now owns 182,170 shares of the industrial products company’s stock worth $3,824,000 after buying an additional 30,138 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Actuant in the 4th quarter worth approximately $487,000. Finally, Piedmont Investment Advisors Inc. grew its stake in shares of Actuant by 3.6% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 14,529 shares of the industrial products company’s stock worth $305,000 after buying an additional 501 shares during the last quarter.
Actuant stock opened at $24.23 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.77 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.46 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.59 and a beta of 1.64. Actuant Co. has a twelve month low of $19.07 and a twelve month high of $31.00.
Actuant (NYSE:ATU) last issued its earnings results on Thursday, March 21st. The industrial products company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. Actuant had a positive return on equity of 13.28% and a negative net margin of 1.97%. The business had revenue of $271.90 million for the quarter, compared to the consensus estimate of $274.44 million. During the same period last year, the business posted $0.13 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. On average, analysts expect that Actuant Co. will post 1.17 EPS for the current fiscal year.
Several analysts recently weighed in on ATU shares. Maxim Group restated a “positive” rating on shares of Actuant in a research note on Thursday, March 21st. GMP Securities restated a “buy” rating and issued a $0.75 price target on shares of Actuant in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.42.
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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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