Pacer Advisors Inc. Trims Stock Position in Atkore Inc. $ATKR

Pacer Advisors Inc. trimmed its holdings in shares of Atkore Inc. (NYSE:ATKR) by 23.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,207 shares of the company’s stock after selling 41,981 shares during the period. Pacer Advisors Inc.’s holdings in Atkore were worth $8,024,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC grew its holdings in Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Atkore by 1,263.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after acquiring an additional 480 shares in the last quarter. Strs Ohio acquired a new stake in shares of Atkore during the first quarter valued at $36,000. Jones Financial Companies Lllp increased its position in Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Atkore in the 4th quarter valued at about $77,000.

Insiders Place Their Bets

In related news, Director Wilbert W. James, Jr. sold 3,299 shares of Atkore stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.61, for a total transaction of $242,839.39. Following the transaction, the director owned 17,063 shares in the company, valued at approximately $1,256,007.43. The trade was a 16.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justin A. Kershaw sold 2,799 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.67, for a total value of $206,202.33. Following the completion of the sale, the director owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

Atkore Stock Up 0.1%

Shares of NYSE:ATKR opened at $93.63 on Thursday. The stock has a 50-day simple moving average of $77.39 and a 200-day simple moving average of $71.31. The stock has a market capitalization of $3.16 billion, a P/E ratio of -19.47 and a beta of 1.68. Atkore Inc. has a 1 year low of $53.49 and a 1 year high of $93.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.02 and a current ratio of 2.64.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.53 by $0.39. The firm had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.11%. During the same quarter last year, the firm posted $2.17 earnings per share. Equities analysts forecast that Atkore Inc. will post 4.75 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Atkore’s dividend payout ratio (DPR) is currently -27.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ATKR shares. Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a report on Wednesday, July 29th. Citigroup boosted their price objective on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Royal Bank Of Canada set a $76.00 target price on shares of Atkore in a research report on Thursday, July 16th. Finally, Roth Capital cut shares of Atkore from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $85.00 to $92.00 in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $143.33.

About Atkore

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.