Cetera Investment Advisers Reduces Holdings in Atkore Inc. (NYSE:ATKR)

Cetera Investment Advisers lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 23.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,232 shares of the company’s stock after selling 3,170 shares during the quarter. Cetera Investment Advisers’ holdings in Atkore were worth $1,381,000 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. Quarry LP purchased a new stake in shares of Atkore in the second quarter valued at $57,000. Mather Group LLC. increased its stake in shares of 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 acquiring an additional 421 shares during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares during the period. Kapitalo Investimentos Ltda boosted its position in shares of Atkore by 2,658.8% in the fourth quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company’s stock worth $150,000 after acquiring an additional 904 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in Atkore by 32.1% in the second quarter. Summit Trail Advisors LLC now owns 1,549 shares of the company’s stock valued at $209,000 after purchasing an additional 376 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. KeyCorp cut their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Loop Capital lowered their price target on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, B. Riley lowered 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Atkore presently has an average rating of “Moderate Buy” and a consensus price target of $131.60.

Atkore Trading Down 1.5 %

Shares of NYSE ATKR opened at $85.59 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $89.27 and its two-hundred day moving average price is $129.84. Atkore Inc. has a 52-week low of $80.11 and a 52-week high of $194.98. The stock has a market capitalization of $3.12 billion, a P/E ratio of 5.34 and a beta of 2.14.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (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 business had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same period in the previous year, the firm posted $5.13 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. On average, analysts anticipate that Atkore Inc. will post 12.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

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 $0.32 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. Atkore’s dividend payout ratio (DPR) is 7.98%.

Insider Activity at Atkore

In related 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 value of $47,735.00. Following the transaction, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.56% of the company’s stock.

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.