KeyCorp Weighs in on Actuant Co.’s Q4 2017 Earnings (ATU)

Actuant Co. (NYSE:ATU) – Research analysts at KeyCorp lifted their Q4 2017 EPS estimates for shares of Actuant in a report issued on Wednesday, Zacks Investment Research reports. KeyCorp analyst J. Hammond now forecasts that the industrial products company will earn $0.43 per share for the quarter, up from their prior estimate of $0.41. KeyCorp has a “Overweight” rating and a $32.00 price target on the stock.

Actuant (NYSE:ATU) last issued its quarterly earnings data on Wednesday, March 22nd. The industrial products company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Actuant had a positive return on equity of 12.92% and a negative net margin of 10.42%. The company earned $258.90 million during the quarter, compared to analysts’ expectations of $250.31 million. During the same quarter last year, the business earned $0.07 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis.

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Earnings History and Estimates for Actuant (NYSE:ATU)

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Actuant from a “buy” rating to a “hold” rating in a research note on Friday, March 24th. Royal Bank of Canada restated a “hold” rating and set a $28.00 price target on shares of Actuant in a research report on Thursday, March 23rd. Tudor Pickering started coverage on shares of Actuant in a research report on Thursday, March 23rd. They set a “hold” rating on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $25.00 price objective on shares of Actuant in a report on Wednesday, March 22nd. Finally, Robert W. Baird raised shares of Actuant from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $26.78.

Shares of Actuant (NYSE:ATU) traded down 0.59% during mid-day trading on Friday, reaching $25.15. 298,434 shares of the company’s stock traded hands. Actuant has a 12-month low of $20.54 and a 12-month high of $29.80. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 30.67 and a beta of 1.57. The stock has a 50-day moving average price of $26.37 and a 200 day moving average price of $25.89.

In other news, VP Ted Wozniak sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $25.64, for a total value of $25,640.00. Following the transaction, the vice president now directly owns 82,496 shares of the company’s stock, valued at $2,115,197.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stephen Rennie sold 2,647 shares of Actuant stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $25.20, for a total transaction of $66,704.40. Following the transaction, the vice president now directly owns 55,818 shares in the company, valued at $1,406,613.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,147 shares of company stock worth $105,009. Insiders own 4.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of ATU. BlackRock Advisors LLC increased its position in shares of Actuant by 41.2% in the third quarter. BlackRock Advisors LLC now owns 460,417 shares of the industrial products company’s stock worth $10,700,000 after buying an additional 134,234 shares during the period. JPMorgan Chase & Co. increased its position in shares of Actuant by 63.4% in the third quarter. JPMorgan Chase & Co. now owns 480,347 shares of the industrial products company’s stock worth $11,163,000 after buying an additional 186,288 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Actuant by 5.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,750 shares of the industrial products company’s stock worth $824,000 after buying an additional 1,550 shares during the period. Comerica Bank increased its position in shares of Actuant by 97.3% in the fourth quarter. Comerica Bank now owns 185,250 shares of the industrial products company’s stock worth $4,992,000 after buying an additional 91,372 shares during the period. Finally, Systematic Financial Management LP bought a new stake in shares of Actuant during the fourth quarter worth $5,575,000.

About Actuant

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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