Russell Investments Group Ltd. Sells 14,500 Shares of Actuant Co. (NYSE:ATU)

Russell Investments Group Ltd. lowered its holdings in shares of Actuant Co. (NYSE:ATU) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,900 shares of the industrial products company’s stock after selling 14,500 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Actuant worth $1,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Neuberger Berman Group LLC lifted its position in Actuant by 5.8% during the first quarter. Neuberger Berman Group LLC now owns 914,252 shares of the industrial products company’s stock valued at $22,279,000 after purchasing an additional 50,226 shares during the last quarter. Investment Counselors of Maryland LLC lifted its position in Actuant by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 797,937 shares of the industrial products company’s stock valued at $19,797,000 after purchasing an additional 8,465 shares during the last quarter. Jennison Associates LLC lifted its position in Actuant by 6.2% during the second quarter. Jennison Associates LLC now owns 774,181 shares of the industrial products company’s stock valued at $19,207,000 after purchasing an additional 45,257 shares during the last quarter. Raymond James & Associates lifted its position in Actuant by 21.0% during the first quarter. Raymond James & Associates now owns 605,047 shares of the industrial products company’s stock valued at $14,745,000 after purchasing an additional 104,848 shares during the last quarter. Finally, Comerica Bank lifted its position in Actuant by 1.1% during the second quarter. Comerica Bank now owns 233,677 shares of the industrial products company’s stock valued at $5,258,000 after purchasing an additional 2,561 shares during the last quarter.

Several equities analysts have commented on ATU shares. JPMorgan Chase & Co. lowered shares of Actuant from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $23.00 to $18.00 in a research report on Wednesday, September 11th. Royal Bank of Canada set a $24.00 price objective on shares of Actuant and gave the company a “hold” rating in a research report on Wednesday. ValuEngine lowered shares of Actuant from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird lowered shares of Actuant from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $23.00 in a report on Tuesday, September 3rd. Finally, Gabelli lowered shares of Actuant from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Actuant has a consensus rating of “Hold” and an average price target of $20.64.

In related news, Director Deursen Holly Van sold 1,647 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $21.20, for a total value of $34,916.40. Following the transaction, the director now owns 41,165 shares of the company’s stock, valued at approximately $872,698. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.62% of the company’s stock.

Shares of Actuant stock traded down $0.14 during trading on Friday, hitting $24.07. The stock had a trading volume of 1,550,544 shares, compared to its average volume of 339,957. The firm’s fifty day simple moving average is $22.61 and its 200-day simple moving average is $23.79. The stock has a market cap of $1.51 billion, a PE ratio of 22.08, a PEG ratio of 2.05 and a beta of 1.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.64 and a quick ratio of 1.92. Actuant Co. has a 12 month low of $19.07 and a 12 month high of $31.00.

Actuant (NYSE:ATU) last released its earnings results on Wednesday, June 26th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The firm had revenue of $295.30 million during the quarter, compared to analyst estimates of $301.21 million. Actuant had a negative net margin of 1.72% and a positive return on equity of 13.89%. The business’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. Analysts expect that Actuant Co. will post 0.7 earnings per share for the current fiscal year.

The company also recently announced an annual dividend, which will be paid on Monday, October 14th. Stockholders of record on Friday, September 27th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a dividend yield of 0.17%. Actuant’s dividend payout ratio (DPR) is presently 3.67%.

Actuant Profile

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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Institutional Ownership by Quarter for Actuant (NYSE:ATU)

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