Chartwell Investment Partners LLC raised its position in shares of ADTRAN, Inc. (NASDAQ:ADTN) by 68.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 203,242 shares of the communications equipment provider’s stock after purchasing an additional 82,515 shares during the quarter. Chartwell Investment Partners LLC’s holdings in ADTRAN were worth $3,933,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. bought a new stake in ADTRAN during the 3rd quarter valued at about $157,000. Public Employees Retirement System of Ohio increased its stake in ADTRAN by 5.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,804 shares of the communications equipment provider’s stock valued at $141,000 after purchasing an additional 373 shares in the last quarter. SG Americas Securities LLC bought a new stake in ADTRAN during the 3rd quarter valued at about $190,000. Crossmark Global Holdings Inc. bought a new stake in ADTRAN during the 3rd quarter valued at about $211,000. Finally, Macquarie Group Ltd. bought a new stake in ADTRAN during the 3rd quarter valued at about $227,000. Institutional investors and hedge funds own 89.94% of the company’s stock.
A number of analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective (down from $26.00) on shares of ADTRAN in a research note on Friday, January 12th. BidaskClub lowered shares of ADTRAN from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Zacks Investment Research lowered shares of ADTRAN from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 23rd. Jefferies Group restated a “hold” rating and set a $17.25 price objective on shares of ADTRAN in a research note on Thursday, January 18th. Finally, Cowen restated a “hold” rating and set a $16.00 price objective on shares of ADTRAN in a research note on Friday, December 29th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.41.
Shares of ADTRAN, Inc. (NASDAQ ADTN) opened at $16.25 on Monday. ADTRAN, Inc. has a 12 month low of $15.65 and a 12 month high of $25.10. The company has a market cap of $782.43, a P/E ratio of 20.06, a PEG ratio of 3.39 and a beta of 0.57. The company has a quick ratio of 2.79, a current ratio of 3.98 and a debt-to-equity ratio of 0.05.
ADTRAN (NASDAQ:ADTN) last announced its quarterly earnings results on Tuesday, January 16th. The communications equipment provider reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. ADTRAN had a net margin of 3.58% and a return on equity of 7.95%. The firm had revenue of $126.52 million during the quarter, compared to analyst estimates of $125.90 million. research analysts anticipate that ADTRAN, Inc. will post 0.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were paid a $0.09 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.22%. ADTRAN’s dividend payout ratio is presently 72.00%.
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ADTRAN Company Profile
ADTRAN, Inc (ADTRAN) is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: Network Solutions and Services & Support. Network Solutions includes software and hardware products that enable CSPs and enterprise customers to realize a fully connected world.
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