Sumitomo Mitsui Trust Holdings Inc. Sells 7,388 Shares of Atkore Inc. (NYSE:ATKR)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Atkore Inc. (NYSE:ATKR) by 83.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,468 shares of the company’s stock after selling 7,388 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Atkore were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ATKR. Boston Partners raised its holdings in Atkore by 149.7% during the 3rd quarter. Boston Partners now owns 601,910 shares of the company’s stock valued at $88,670,000 after buying an additional 360,837 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Atkore by 78.4% during the 3rd quarter. Clearbridge Investments LLC now owns 278,691 shares of the company’s stock valued at $41,578,000 after buying an additional 122,516 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Atkore by 25.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 540,973 shares of the company’s stock valued at $80,708,000 after buying an additional 111,115 shares during the last quarter. Invesco Ltd. raised its holdings in Atkore by 13.8% during the 3rd quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock valued at $122,084,000 after buying an additional 99,345 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Atkore by 1,569.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 99,600 shares of the company’s stock valued at $14,859,000 after buying an additional 93,635 shares during the last quarter.

Insider Buying and Selling

In related news, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $158.49, for a total value of $1,037,792.52. Following the completion of the transaction, the insider now directly owns 30,430 shares in the company, valued at approximately $4,822,850.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Daniel S. Kelly sold 8,685 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the sale, the vice president now directly owns 34,907 shares of the company’s stock, valued at approximately $6,041,354.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the sale, the insider now directly owns 30,430 shares in the company, valued at $4,822,850.70. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock worth $25,124,751 in the last three months. 2.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup upped their price objective on shares of Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and issued a $187.00 price objective on shares of Atkore in a report on Friday, March 22nd. Finally, StockNews.com upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th.

Atkore Stock Up 1.0 %

Shares of NYSE ATKR opened at $183.04 on Friday. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 12 month low of $116.14 and a 12 month high of $194.98. The firm has a market capitalization of $6.73 billion, a PE ratio of 10.97 and a beta of 2.19. The firm has a fifty day simple moving average of $173.49 and a two-hundred day simple moving average of $153.41.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $1.04. The company had revenue of $798.50 million during the quarter, compared to analyst estimates of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. Atkore’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $4.51 EPS. Equities analysts expect that Atkore Inc. will post 15.06 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were paid a $0.32 dividend. The ex-dividend date was Monday, February 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.70%. Atkore’s payout ratio is 7.67%.

Atkore 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.