Raymond James & Associates Sells 27,617 Shares of Atkore Inc. (NYSE:ATKR)

Raymond James & Associates reduced its position in shares of Atkore Inc. (NYSE:ATKR) by 18.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,358 shares of the company’s stock after selling 27,617 shares during the period. Raymond James & Associates owned approximately 0.32% of Atkore worth $10,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATKR. Van ECK Associates Corp raised its holdings in Atkore by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 15,816 shares of the company’s stock valued at $3,011,000 after buying an additional 4,230 shares during the last quarter. Centric Wealth Management raised its stake in shares of Atkore by 4.7% during the first quarter. Centric Wealth Management now owns 25,515 shares of the company’s stock valued at $4,473,000 after acquiring an additional 1,134 shares during the last quarter. Peterson Wealth Services lifted its holdings in shares of Atkore by 217.4% during the first quarter. Peterson Wealth Services now owns 4,275 shares of the company’s stock worth $814,000 after purchasing an additional 2,928 shares during the period. Capstone Investment Advisors LLC bought a new stake in shares of Atkore in the first quarter worth $1,053,000. Finally, Mutual of America Capital Management LLC increased its holdings in Atkore by 37.5% in the first quarter. Mutual of America Capital Management LLC now owns 19,145 shares of the company’s stock valued at $3,644,000 after purchasing an additional 5,225 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. B. Riley lowered their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. 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 report on Wednesday, August 7th. 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, September 20th. Finally, KeyCorp dropped their target price 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Atkore presently has an average rating of “Moderate Buy” and an average price target of $131.60.

Atkore Price Performance

Shares of NYSE ATKR opened at $86.66 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. Atkore Inc. has a fifty-two week low of $80.11 and a fifty-two week high of $194.98. The stock has a market cap of $3.16 billion, a PE ratio of 5.40 and a beta of 2.14. The stock has a fifty day moving average of $87.91 and a 200-day moving average of $123.86.

Atkore (NYSE:ATKR) last posted its earnings results 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 net margin of 16.47% and a return on equity of 36.96%. The business had revenue of $822.40 million for the quarter, compared to analysts’ expectations of $830.16 million. During the same period in the prior year, the company posted $5.13 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts anticipate that Atkore Inc. will post 12.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.56% of the stock is owned by insiders.

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.