Pzena Investment Management LLC grew its stake in shares of Actuant Co. (NYSE:ATU) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,311,706 shares of the industrial products company’s stock after purchasing an additional 6,118 shares during the quarter. Pzena Investment Management LLC owned approximately 7.02% of Actuant worth $106,973,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in Actuant by 13.9% in the fourth quarter. Bank of America Corp DE now owns 262,575 shares of the industrial products company’s stock valued at $5,512,000 after buying an additional 31,963 shares in the last quarter. Norges Bank bought a new position in shares of Actuant in the fourth quarter worth about $23,263,000. Deutsche Bank AG raised its stake in shares of Actuant by 43.1% in the fourth quarter. Deutsche Bank AG now owns 188,838 shares of the industrial products company’s stock worth $3,962,000 after acquiring an additional 56,832 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Actuant by 11.2% in the first quarter. Raymond James Trust N.A. now owns 12,438 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Isthmus Partners LLC raised its stake in shares of Actuant by 4.2% in the first quarter. Isthmus Partners LLC now owns 39,025 shares of the industrial products company’s stock worth $951,000 after acquiring an additional 1,575 shares during the last quarter.
In related news, Director Deursen Holly Van sold 1,647 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.20, for a total transaction of $34,916.40. Following the completion of the sale, the director now directly owns 41,165 shares of the company’s stock, valued at $872,698. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.62% of the company’s stock.
Actuant (NYSE:ATU) last posted its quarterly earnings results on Wednesday, June 26th. The industrial products company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. The business had revenue of $295.30 million during the quarter, compared to the consensus estimate of $301.21 million. Actuant had a negative net margin of 1.72% and a positive return on equity of 13.89%. Actuant’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities research analysts predict that Actuant Co. will post 0.7 EPS for the current year.
The firm also recently declared an annual dividend, which will be paid on Monday, October 14th. Investors of record on Friday, September 27th will be paid a dividend of $0.04 per share. This represents a dividend yield of 0.17%. The ex-dividend date is Thursday, September 26th. Actuant’s dividend payout ratio (DPR) is 3.67%.
ATU has been the subject of a number of research analyst reports. GMP Securities reaffirmed a “buy” rating and issued a $0.75 target price on shares of Actuant in a research note on Wednesday, May 8th. Robert W. Baird set a $25.00 target price on shares of Actuant and gave the stock a “buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.96.
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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