Mid-Cap Equity Investments
Hennessy Advisors Discloses New Q2 Stakes in Patterson-UTI and Other Mid-Cap Equities
Anonymous
Key Points
1
Patterson-UTI Energy (PTEN) saw Hennessy Advisors acquire 820,800 shares in Q2, valued at about $7.54 million for roughly 0.22% ownership. The SEC filing also shows concurrent activity from other institutions, including Lazard Asset Management (+1,255 shares to 21,339 total) and Assetmark Inc. (+1,786 to 23,797), among others.
2
ADTRAN Holdings (ADTN): Hennessy opened a new stake of 526,300 shares worth about $7.32 million (about 0.65% of the company). The article notes that institutional ownership is high (about 80.56%), and provides several stock fundamentals and analyst commentary, including a price open around $7.72 and targets from multiple analysts ($12–$15 range).
3
AAR Corp. (AIR): Hennessy established a new position of 83,300 shares valued at about $11.9 million (~0.21%). The report also highlights BlackRock’s substantial activity in AAR during Q2, with a new position worth roughly $925.1 million, plus significant moves by Wellington, Barrow Hanley, UBS, and State Street.
4
Dana Incorporated (DAN): Hennessy bought 252,700 shares in Q2 for roughly $6.88 million (~0.23%). The piece notes that 96.79% of DAN stock is institutional-owned and provides context such as a recent dividend payment and current valuation metrics (e.g., P/E around 3.02; 50- and 200-day moving averages).
Hennessy Advisors deployed capital across four mid-cap stocks in the second quarter, betting on energy, aerospace, and industrial names. The investment firm spent roughly $34 million buying new and expanded stakes in Patterson-UTI Energy, ADTRAN Holdings, AAR Corp., and Dana Incorporated, according to Watchlist News filings.
Patterson-UTI Energy Position Worth $7.54 Million
Hennessy bought 820,800 shares of Patterson-UTI Energy (PTEN) valued at approximately $7.54 million, giving it roughly 0.22% ownership in the oil and gas driller, according to Watchlist News. This new position follows a broader wave of institutional interest in the energy sector during Q2.
New Stake in ADTRAN Tech Holdings
Hennessy opened a fresh position in ADTRAN Holdings (ADTN) with 526,300 shares worth roughly $7.32 million, representing about 0.65% ownership, Watchlist News disclosed. The technology company carries high institutional ownership at around 80.56%, with analyst price targets ranging from $12 to $15 per share.
Aerospace Play With AAR Corp. Investment
Hennessy established a stake in aerospace supplier AAR Corp. (AIR) by purchasing 83,300 shares for nearly $11.9 million, or roughly 0.21% of the company. The move came as major investor BlackRock built a new position worth approximately $925.1 million in AAR during the same quarter.
Dana Incorporated Expanded to $6.88 Million
Hennessy expanded its exposure to auto supplier Dana Incorporated (DAN) by adding 252,700 shares worth about $6.88 million for roughly 0.23% ownership, Watchlist News reported. Dana stock trades with an unusually low P/E ratio near 3.02, while institutional investors control 96.79% of outstanding shares.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
15
Articles
19
Reach
34
Topics
A
AnonymousAuthor
