Benjamin Edwards Inc. Grows Position in Atkore Inc. (NYSE:ATKR)

Benjamin Edwards Inc. raised its position in shares of Atkore Inc. (NYSE:ATKR) by 20.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,594 shares of the company’s stock after buying an additional 274 shares during the quarter. Benjamin Edwards Inc.’s holdings in Atkore were worth $215,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new position in Atkore during the 4th quarter valued at approximately $25,000. LifeSteps Financial Inc. purchased a new position in Atkore during the 1st quarter valued at approximately $33,000. Mather Group LLC. grew its holdings in Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after buying an additional 421 shares in the last quarter. Quest Partners LLC purchased a new position in Atkore during the 4th quarter valued at approximately $86,000. Finally, Headlands Technologies LLC grew its holdings in Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after buying an additional 805 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on ATKR shares. Loop Capital cut their price target on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday. KeyCorp dropped their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, B. Riley dropped their target price on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.60.

Atkore Price Performance

Shares of ATKR stock opened at $87.02 on Friday. Atkore Inc. has a 52-week low of $80.11 and a 52-week high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The firm has a market capitalization of $3.17 billion, a P/E ratio of 5.43 and a beta of 2.15. The stock has a 50 day moving average price of $106.42 and a 200 day moving average price of $141.31.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same period last year, the company earned $5.13 EPS. Atkore’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the sale, the insider now directly owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.56% of the stock is currently owned by corporate insiders.

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.