Atkore Inc. (NYSE:ATKR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Atkore Inc. (NYSE:ATKR) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,504 shares of the company’s stock after selling 6,464 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Atkore were worth $1,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Atkore during the 4th quarter valued at approximately $68,109,000. Hood River Capital Management LLC purchased a new position in shares of Atkore during the 1st quarter valued at approximately $63,900,000. Swedbank AB purchased a new position in shares of Atkore during the 1st quarter valued at approximately $47,591,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Atkore by 28.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock valued at $131,303,000 after purchasing an additional 216,997 shares in the last quarter. Finally, Boston Trust Walden Corp purchased a new position in shares of Atkore during the 2nd quarter valued at approximately $23,306,000.

Analysts Set New Price Targets

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

Insider Transactions 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 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 this hyperlink. Insiders own 2.56% of the company’s stock.

Atkore Price Performance

Atkore stock opened at $85.35 on Tuesday. Atkore Inc. has a 52-week low of $80.11 and a 52-week high of $194.98. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 5.32 and a beta of 2.14. The company has a fifty day simple moving average of $105.23 and a 200-day simple moving average of $140.55. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last released its 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 net margin of 16.47% and a return on equity of 36.96%. The business had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same quarter in the prior year, the firm earned $5.13 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore’s payout ratio is 7.98%.

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.