Capital Research Global Investors Trims Holdings in Atkore Inc. (NYSE:ATKR)

Capital Research Global Investors trimmed its position in Atkore Inc. (NYSE:ATKRFree Report) by 95.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,430 shares of the company’s stock after selling 421,976 shares during the period. Capital Research Global Investors owned about 0.05% of Atkore worth $3,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATKR. First Trust Advisors LP lifted its holdings in shares of Atkore by 5.4% during the 4th quarter. First Trust Advisors LP now owns 268,268 shares of the company’s stock worth $42,923,000 after acquiring an additional 13,659 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Atkore during the 4th quarter worth about $674,000. Winmill & CO. Inc. lifted its holdings in shares of Atkore by 1.6% during the 4th quarter. Winmill & CO. Inc. now owns 38,823 shares of the company’s stock worth $6,212,000 after acquiring an additional 623 shares during the period. Alpha DNA Investment Management LLC purchased a new position in shares of Atkore during the 4th quarter worth about $281,000. Finally, Adams Wealth Management lifted its holdings in shares of Atkore by 18.7% during the 4th quarter. Adams Wealth Management now owns 11,659 shares of the company’s stock worth $1,865,000 after acquiring an additional 1,838 shares during the period.

Analysts Set New Price Targets

A number of research firms recently issued reports on ATKR. StockNews.com downgraded shares of Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Royal Bank of Canada reissued an “outperform” rating and set a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. Finally, Citigroup dropped their target price on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th.

Read Our Latest Report on Atkore

Atkore Stock Down 0.3 %

ATKR opened at $141.29 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09. Atkore Inc. has a 1 year low of $121.00 and a 1 year high of $194.98. The firm has a 50 day moving average price of $165.61 and a 200 day moving average price of $158.71. The company has a market cap of $5.15 billion, a PE ratio of 8.81 and a beta of 2.16.

Atkore (NYSE:ATKRGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.86. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The company had revenue of $792.90 million during the quarter, compared to the consensus estimate of $808.22 million. During the same quarter last year, the company earned $4.31 earnings per share. Atkore’s revenue for the quarter was down 11.5% on a year-over-year basis. Sell-side analysts expect that Atkore Inc. will post 14.93 earnings per share for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Monday, May 20th. Atkore’s dividend payout ratio (DPR) is 7.98%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total value of $78,835.00. Following the completion of the sale, the insider now owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Justin A. Kershaw sold 1,099 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $171.77, for a total transaction of $188,775.23. Following the completion of the transaction, the director now directly owns 16,686 shares in the company, valued at approximately $2,866,154.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total value of $78,835.00. Following the transaction, the insider now owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The disclosure for this sale can be found here. Insiders sold 8,099 shares of company stock valued at $1,412,065 over the last 90 days. 2.56% of the stock is owned by corporate insiders.

About Atkore

(Free Report)

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.

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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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