Wedge Capital Management L L P NC Trims Stock Position in Actuant Co. (NYSE:ATU)

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Wedge Capital Management L L P NC cut its stake in shares of Actuant Co. (NYSE:ATU) by 98.1% in the 3rd quarter, Holdings Channel reports. The fund owned 12,787 shares of the industrial products company’s stock after selling 644,492 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Actuant were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Actuant by 30.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,461 shares of the industrial products company’s stock worth $98,000 after buying an additional 1,037 shares in the last quarter. Atria Investments LLC purchased a new position in shares of Actuant during the 2nd quarter worth approximately $103,000. Marshall Wace LLP purchased a new position in shares of Actuant during the 1st quarter worth approximately $118,000. Jane Street Group LLC purchased a new position in shares of Actuant during the 2nd quarter worth approximately $232,000. Finally, Zeke Capital Advisors LLC raised its stake in shares of Actuant by 23.7% during the 3rd quarter. Zeke Capital Advisors LLC now owns 14,641 shares of the industrial products company’s stock worth $321,000 after buying an additional 2,806 shares in the last quarter.

ATU has been the subject of a number of analyst reports. Royal Bank of Canada set a $24.00 target price on Actuant and gave the stock a “hold” rating in a research note on Wednesday, September 18th. Gabelli downgraded Actuant from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a research note on Tuesday, September 17th. G.Research downgraded Actuant from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Robert W. Baird cut their target price on Actuant from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Finally, ValuEngine downgraded Actuant from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.53.

Shares of ATU remained flat at $$20.79 on Friday. The company had a trading volume of 453,395 shares, compared to its average volume of 711,380. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 2.27 and a beta of 1.63. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.43 and a quick ratio of 2.17. The company’s fifty day moving average is $21.87 and its 200-day moving average is $23.05. Actuant Co. has a 1-year low of $19.07 and a 1-year high of $27.97.

Actuant (NYSE:ATU) last released its quarterly earnings results on Thursday, September 26th. The industrial products company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $158.32 million for the quarter, compared to analysts’ expectations of $168.57 million. Actuant had a positive return on equity of 13.49% and a negative net margin of 24.47%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, equities analysts anticipate that Actuant Co. will post 0.76 EPS for the current year.

In related news, Director Deursen Holly Van sold 1,647 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $21.20, for a total value of $34,916.40. Following the sale, the director now owns 41,165 shares in the company, valued at approximately $872,698. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

About Actuant

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.

See Also: What is Liquidity?

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Institutional Ownership by Quarter for Actuant (NYSE:ATU)

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