Bank of New York Mellon Corp Reduces Position in Actuant Co. (ATU)

Bank of New York Mellon Corp lowered its holdings in Actuant Co. (NYSE:ATU) by 0.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 722,907 shares of the industrial products company’s stock after selling 3,109 shares during the period. Bank of New York Mellon Corp owned approximately 1.19% of Actuant worth $21,218,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ATU. Principal Financial Group Inc. grew its holdings in Actuant by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 459,952 shares of the industrial products company’s stock worth $10,694,000 after acquiring an additional 12,318 shares in the last quarter. Engineers Gate Manager LP grew its holdings in Actuant by 35.9% during the 2nd quarter. Engineers Gate Manager LP now owns 51,785 shares of the industrial products company’s stock worth $1,520,000 after acquiring an additional 13,692 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Actuant by 9.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 601,502 shares of the industrial products company’s stock worth $13,985,000 after acquiring an additional 52,673 shares in the last quarter. Swiss National Bank grew its holdings in Actuant by 4.2% during the 1st quarter. Swiss National Bank now owns 104,000 shares of the industrial products company’s stock worth $2,418,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in Actuant by 2.2% during the 1st quarter. Prudential Financial Inc. now owns 101,162 shares of the industrial products company’s stock worth $2,352,000 after acquiring an additional 2,150 shares in the last quarter.

Several research analysts have commented on the stock. TheStreet upgraded shares of Actuant from a “c-” rating to a “b-” rating in a report on Wednesday, June 20th. Zacks Investment Research upgraded shares of Actuant from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, June 22nd. KeyCorp boosted their price target on shares of Actuant from $27.00 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, June 21st. Robert W. Baird boosted their price target on shares of Actuant from $25.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, June 21st. Finally, SunTrust Banks boosted their price target on shares of Actuant to $27.00 and gave the stock a “hold” rating in a report on Thursday, June 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.69.

Shares of NYSE:ATU opened at $29.50 on Friday. The company has a market cap of $1.77 billion, a PE ratio of 35.54, a P/E/G ratio of 1.45 and a beta of 1.48. The company has a quick ratio of 1.53, a current ratio of 2.08 and a debt-to-equity ratio of 0.85. Actuant Co. has a twelve month low of $21.50 and a twelve month high of $30.10.

Actuant (NYSE:ATU) last issued its quarterly earnings data on Wednesday, June 20th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $317.10 million during the quarter, compared to the consensus estimate of $306.83 million. Actuant had a negative net margin of 7.15% and a positive return on equity of 9.86%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. equities research analysts forecast that Actuant Co. will post 1.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.54%. Actuant’s dividend payout ratio is presently 4.82%.

About Actuant

Actuant Corporation designs, manufactures, and distributes a range of industrial products and systems worldwide. It operates through three segments: Industrial, Energy, and Engineered Solutions. The 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 under the Enerpac, Larzep, Milwaukee Cylinder, Precision-Hayes, and Simplex brand names.

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Institutional Ownership by Quarter for Actuant (NYSE:ATU)

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