Actuant Corporation (ATU) : Traders are bullish on Actuant Corporation (ATU) as it has outperformed the S&P 500 by a wide margin of 0.61% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.77%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.73% in the last 1 week, and is up 0.99% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Actuant Corporation has dropped 5.46% during the last 3-month period . Year-to-Date the stock performance stands at 1.96%. The stock has recorded a 20-day Moving Average of 2.29% and the 50-Day Moving Average is 1.51%.
Actuant Corporation (NYSE:ATU): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.10 and $23.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.43, notching a gain of 1.24% for the day. The total traded volume was 309,704 . The stock had closed at $24.13 on the previous day.
Also, Topeka Capital initiates coverage on Actuant Corporation (NYSE:ATU) The shares have been rated Hold. The rating by the firm was issued on May 26, 2016.
Actuant Corporation is a global diversified company that designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company is organized into three operating segments: Industrial, Energy and Engineered Solutions. The Industrial segment is involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets. The Energy segment provides joint integrity products and services, customized offshore vessel mooring solutions, as well as rope and cable solutions to the global oil & gas, power generation and other energy markets. The Engineered Solutions segment provides highly engineered position and motion control systems to original equipment manufacturers (OEM) in various on and off-highway vehicle markets, as well as, a variety of other products to the industrial and agricultural markets.