Two Sigma Advisers LP trimmed its position in ADTRAN, Inc. (NASDAQ:ADTN) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,885 shares of the communications equipment provider’s stock after selling 1,700 shares during the quarter. Two Sigma Advisers LP’s holdings in ADTRAN were worth $385,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of ADTRAN during the third quarter valued at approximately $224,000. Bank of New York Mellon Corp increased its position in shares of ADTRAN by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 747,970 shares of the communications equipment provider’s stock valued at $13,202,000 after acquiring an additional 25,549 shares during the last quarter. BlackRock Inc. increased its position in shares of ADTRAN by 2.7% during the third quarter. BlackRock Inc. now owns 7,123,806 shares of the communications equipment provider’s stock valued at $125,733,000 after acquiring an additional 189,442 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ADTRAN by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,537,240 shares of the communications equipment provider’s stock valued at $62,432,000 after acquiring an additional 77,813 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of ADTRAN during the third quarter valued at approximately $196,000. Institutional investors own 92.91% of the company’s stock.
NASDAQ:ADTN opened at $16.59 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.66 and a quick ratio of 2.17. ADTRAN, Inc. has a 1 year low of $10.21 and a 1 year high of $19.30. The firm has a market capitalization of $792.62 million, a price-to-earnings ratio of -35.30 and a beta of 1.26.
ADTRAN (NASDAQ:ADTN) last released its earnings results on Wednesday, April 17th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.19. ADTRAN had a negative return on equity of 0.32% and a negative net margin of 1.40%. The business had revenue of $143.79 million during the quarter, compared to the consensus estimate of $140.55 million.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Wednesday, May 1st. ADTRAN’s dividend payout ratio is currently -76.60%.
A number of analysts recently commented on ADTN shares. Zacks Investment Research downgraded ADTRAN from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. ValuEngine downgraded ADTRAN from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. BidaskClub raised ADTRAN from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Finally, Needham & Company LLC downgraded ADTRAN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. ADTRAN has an average rating of “Hold” and a consensus target price of $17.50.
ADTRAN, Inc provides networking and communications equipment worldwide. The company operates through two segments, Network Solutions and Services & Support. It offers access and aggregation solutions, including network management and subscriber services control and orchestration software within a SD-access architecture; SDN-controlled programmable network elements; fiber to the premises and fiber to the node (FTTN) multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; optical networking edge aggregation; and IP digital subscriber line access multiplexers.
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