Envestnet Asset Management Inc. Has $21.89 Million Holdings in Atkore Inc. (NYSE:ATKR)

Envestnet Asset Management Inc. grew its holdings in Atkore Inc. (NYSE:ATKR) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,233 shares of the company’s stock after purchasing an additional 867 shares during the period. Envestnet Asset Management Inc. owned approximately 0.45% of Atkore worth $21,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Boston Partners raised its position in Atkore by 12.0% during the first quarter. Boston Partners now owns 1,340,146 shares of the company’s stock valued at $254,733,000 after buying an additional 143,121 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atkore by 28.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock worth $131,303,000 after purchasing an additional 216,997 shares during the period. American Century Companies Inc. grew its position in Atkore by 22.9% during the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after purchasing an additional 144,283 shares in the last quarter. Clearbridge Investments LLC increased its stake in Atkore by 48.4% in the 1st quarter. Clearbridge Investments LLC now owns 514,908 shares of the company’s stock valued at $98,018,000 after buying an additional 168,042 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Atkore by 1.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after buying an additional 4,852 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ATKR. Royal Bank of Canada downgraded shares of Atkore from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. B. Riley reduced their price target on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Loop Capital dropped their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday. Finally, KeyCorp cut their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Three investment 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.60.

Atkore Stock Down 2.4 %

ATKR stock opened at $87.02 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The company has a 50-day moving average of $106.42 and a two-hundred day moving average of $141.15. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 5.43 and a beta of 2.14. Atkore Inc. has a 52-week low of $80.11 and a 52-week high of $194.98.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.28. The firm had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. During the same quarter in the prior year, the company earned $5.13 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore’s payout ratio is currently 7.98%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the transaction, the insider now owns 28,086 shares in the company, valued at approximately $2,681,370.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.56% of the company’s stock.

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.