Olstein Capital Management L.P. Has $2,314,000 Stake in Astronics Corp. (ATRO)
Olstein Capital Management L.P. reduced its stake in Astronics Corp. (NASDAQ:ATRO) by 25.6% during the third quarter, Holdings Channel reports. The firm owned 51,360 shares of the company’s stock after selling 17,660 shares during the period. Olstein Capital Management L.P.’s holdings in Astronics Corp. were worth $2,314,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of ATRO. Royal Bank of Canada raised its position in shares of Astronics Corp. by 1.1% in the second quarter. Royal Bank of Canada now owns 1,443,970 shares of the company’s stock valued at $48,027,000 after buying an additional 15,965 shares during the last quarter. Neuberger Berman Group LLC raised its stake in Astronics Corp. by 0.7% in the third quarter. Neuberger Berman Group LLC now owns 1,393,738 shares of the company’s stock worth $62,788,000 after buying an additional 9,547 shares in the last quarter. Vanguard Group Inc. raised its stake in Astronics Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 939,855 shares of the company’s stock worth $31,259,000 after buying an additional 7,004 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Astronics Corp. by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 601,544 shares of the company’s stock worth $20,007,000 after buying an additional 85,952 shares in the last quarter. Finally, FMR LLC raised its stake in Astronics Corp. by 5.0% in the second quarter. FMR LLC now owns 315,800 shares of the company’s stock worth $10,504,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 57.34% of the company’s stock.
Shares of Astronics Corp. (NASDAQ:ATRO) traded down 2.24% during mid-day trading on Tuesday, hitting $37.57. 80,372 shares of the stock were exchanged. Astronics Corp. has a 12 month low of $21.53 and a 12 month high of $40.84. The stock’s 50 day moving average is $35.93 and its 200-day moving average is $34.63. The stock has a market cap of $1.09 billion, a PE ratio of 21.62 and a beta of 1.28.
Astronics Corp. (NASDAQ:ATRO) last announced its earnings results on Tuesday, November 8th. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.08. The firm earned $155.10 million during the quarter, compared to the consensus estimate of $166.08 million. Astronics Corp. had a return on equity of 16.66% and a net margin of 8.24%. The business’s revenue for the quarter was down 22.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 earnings per share. On average, analysts anticipate that Astronics Corp. will post $1.74 EPS for the current year.
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A number of analysts have weighed in on ATRO shares. Canaccord Genuity raised their price objective on shares of Astronics Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 26th. Zacks Investment Research lowered shares of Astronics Corp. from a “hold” rating to a “strong sell” rating in a research note on Monday, October 10th.
About Astronics Corp.
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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