Atkore Inc. (NYSE:ATKR) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its position in shares of Atkore Inc. (NYSE:ATKR) by 81.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,092 shares of the company’s stock after selling 4,788 shares during the period. Exchange Traded Concepts LLC’s holdings in Atkore were worth $93,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in Atkore during the 2nd quarter worth about $57,000. Mather Group LLC. lifted its stake in Atkore by 895.7% during the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after purchasing an additional 421 shares during the last quarter. Headlands Technologies LLC boosted its holdings in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after purchasing an additional 805 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Atkore in the first quarter valued at approximately $239,000. Finally, Paradice Investment Management LLC acquired a new stake in Atkore during the first quarter worth approximately $253,000.

Atkore Stock Down 0.5 %

ATKR opened at $86.80 on Wednesday. Atkore Inc. has a 52 week low of $80.11 and a 52 week high of $194.98. The business has a 50 day moving average price of $88.59 and a two-hundred day moving average price of $126.40. 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 company has a market cap of $3.16 billion, a PE ratio of 5.41 and a beta of 2.14.

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

Atkore Dividend Announcement

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

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ATKR shares. B. Riley lowered their target price 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. KeyCorp decreased their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Finally, Loop Capital decreased their target price on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.60.

About Atkore

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.