Buckingham Asset Management LLC Buys New Holdings in Arotech Co. (ARTX)

Buckingham Asset Management LLC Buys New Holdings in Arotech Co. (ARTX)

Buckingham Asset Management LLC bought a new stake in shares of Arotech Co. (NASDAQ:ARTX) in the first quarter, Holdings Channel reports. The fund bought 34,882 shares of the aerospace company’s stock, valued at approximately $102,000.

A number of other hedge funds also recently bought and sold shares of ARTX. Van ECK Associates Corp grew its holdings in Arotech by 49.4% during the 4th quarter. Van ECK Associates Corp now owns 13,153 shares of the aerospace company’s stock valued at $34,000 after buying an additional 4,352 shares in the last quarter. Shepherd Kaplan Krochuk LLC purchased a new position in shares of Arotech during the fourth quarter worth about $54,000. Marshall Wace LLP purchased a new position in shares of Arotech during the third quarter worth about $55,000. Virtu Financial LLC purchased a new position in shares of Arotech during the first quarter worth about $63,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Arotech by 31.7% during the fourth quarter. Acadian Asset Management LLC now owns 36,228 shares of the aerospace company’s stock worth $95,000 after purchasing an additional 8,729 shares in the last quarter. 31.07% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered Arotech from a “buy” rating to a “hold” rating in a report on Monday, February 4th.

In other news, Chairman Jon B. Kutler bought 9,984 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of $3.01 per share, for a total transaction of $30,051.84. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 19,984 shares of company stock valued at $59,902 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.

Shares of NASDAQ ARTX opened at $2.45 on Friday. Arotech Co. has a 12 month low of $1.90 and a 12 month high of $4.15. The company has a quick ratio of 1.61, a current ratio of 1.97 and a debt-to-equity ratio of 0.08. The stock has a market cap of $77.15 million, a PE ratio of 15.31 and a beta of 1.38.

Arotech (NASDAQ:ARTX) last issued its quarterly earnings data on Wednesday, May 8th. The aerospace company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.06). Arotech had a return on equity of 5.72% and a net margin of 1.94%. The business had revenue of $20.78 million for the quarter, compared to analysts’ expectations of $24.10 million. Sell-side analysts anticipate that Arotech Co. will post 0.18 EPS for the current year.

About Arotech

Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.

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