Actuant Co. (NYSE:ATU) Stake Lowered by Cove Street Capital LLC

Cove Street Capital LLC reduced its holdings in Actuant Co. (NYSE:ATU) by 6.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 636,115 shares of the industrial products company’s stock after selling 41,950 shares during the quarter. Actuant accounts for about 1.9% of Cove Street Capital LLC’s investment portfolio, making the stock its 21st biggest holding. Cove Street Capital LLC’s holdings in Actuant were worth $15,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ATU. Municipal Employees Retirement System of Michigan acquired a new position in Actuant during the fourth quarter worth $370,000. Metropolitan Life Insurance Co. NY increased its position in Actuant by 382.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,162 shares of the industrial products company’s stock worth $423,000 after buying an additional 15,985 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in Actuant by 94.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 163,528 shares of the industrial products company’s stock worth $3,432,000 after buying an additional 79,540 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in Actuant by 1.2% during the first quarter. Frontier Capital Management Co. LLC now owns 1,667,574 shares of the industrial products company’s stock worth $40,639,000 after buying an additional 19,812 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in Actuant by 4.3% during the fourth quarter. Texas Permanent School Fund now owns 39,960 shares of the industrial products company’s stock worth $839,000 after buying an additional 1,645 shares in the last quarter.

Several equities analysts have weighed in on ATU shares. Maxim Group reissued a “positive” rating on shares of Actuant in a research report on Thursday, March 21st. GMP Securities reissued a “buy” rating and set a $0.75 price target on shares of Actuant in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Actuant presently has a consensus rating of “Hold” and a consensus target price of $22.42.

Actuant stock opened at $23.84 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 2.35 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 1.61 and a beta of 1.64. Actuant Co. has a fifty-two week low of $19.07 and a fifty-two week high of $31.00.

Actuant (NYSE:ATU) last released its quarterly earnings results on Thursday, March 21st. The industrial products company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $271.90 million during the quarter, compared to the consensus estimate of $274.44 million. Actuant had a positive return on equity of 13.28% and a negative net margin of 1.97%. Actuant’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. On average, research analysts anticipate that Actuant Co. will post 1.17 EPS for the current year.

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Actuant Company 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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