Atkore Inc. (NYSE:ATKR) Stake Lowered by FORA Capital LLC

FORA Capital LLC lessened its holdings in shares of Atkore Inc. (NYSE:ATKR) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,806 shares of the company’s stock after selling 1,202 shares during the quarter. FORA Capital LLC’s holdings in Atkore were worth $234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp grew its holdings in Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares during the last quarter. Pacer Advisors Inc. lifted its position in Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after purchasing an additional 195 shares during the period. Harbour Investments Inc. boosted its position in shares of Atkore by 3,333.3% during the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV boosted its holdings in Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after purchasing an additional 469 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Atkore by 88.5% in the 4th quarter. Covestor Ltd now owns 1,889 shares of the company’s stock valued at $157,000 after buying an additional 887 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the transaction, the insider now owns 32,828 shares in the company, valued at approximately $2,270,384.48. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.99% of the company’s stock.

Atkore Price Performance

NYSE ATKR opened at $67.95 on Friday. The firm’s 50 day moving average is $61.77 and its 200-day moving average is $75.30. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.36 billion, a PE ratio of 6.58 and a beta of 2.10. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $159.30.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. During the same period in the previous year, the business earned $4.08 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. Equities research analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.94%. This is an increase from Atkore’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 16th. Atkore’s dividend payout ratio (DPR) is currently 25.38%.

Analyst Ratings Changes

ATKR has been the topic of several research analyst reports. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Royal Bank of Canada boosted their price objective on Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a report on Wednesday. Roth Capital set a $78.00 price target on Atkore and gave the company a “buy” rating in a research note on Wednesday. KeyCorp lifted their price objective on shares of Atkore from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Citigroup decreased their target price on Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.57.

Atkore Company Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.