Hsbc Holdings PLC Raises Stock Position in Atkore Inc. (NYSE:ATKR)

Hsbc Holdings PLC boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 300.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,920 shares of the company’s stock after acquiring an additional 65,938 shares during the period. Hsbc Holdings PLC owned 0.24% of Atkore worth $11,944,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. ICA Group Wealth Management LLC purchased a new stake in shares of Atkore during the 4th quarter valued at $25,000. LifeSteps Financial Inc. acquired a new position in Atkore during the 1st quarter valued at about $33,000. Mather Group LLC. raised its stake in Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after buying an additional 421 shares during the last quarter. Quest Partners LLC acquired a new stake in Atkore in the fourth quarter worth about $86,000. Finally, Headlands Technologies LLC grew its stake in shares of Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Atkore Trading Down 2.4 %

NYSE ATKR opened at $87.02 on Monday. The company has a fifty day moving average of $106.42 and a 200 day moving average of $141.15. The company has a market capitalization of $3.17 billion, a PE ratio of 5.43 and a beta of 2.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. Atkore Inc. has a 1 year low of $80.11 and a 1 year high of $194.98.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $830.16 million. During the same period last year, the company earned $5.13 earnings per share. Atkore’s revenue for the quarter was down 10.5% compared to the same quarter last year. Research analysts forecast that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Announces Dividend

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

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.56% of the stock is 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.