Atkore Inc. (NYSE:ATKR) Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its position in shares of Atkore Inc. (NYSE:ATKR) by 56.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,241 shares of the company’s stock after purchasing an additional 17,106 shares during the period. Citigroup Inc. owned 0.13% of Atkore worth $4,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATKR. Signaturefd LLC increased its position in Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares during the last quarter. Quarry LP acquired a new stake in Atkore during the second quarter worth about $57,000. Mather Group LLC. increased its position 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. Covestor Ltd increased its position in Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after purchasing an additional 390 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after purchasing an additional 805 shares during the last quarter.

Analysts Set New Price Targets

ATKR has been the subject of several research analyst reports. KeyCorp lowered their target price 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. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Royal Bank of Canada lowered their price objective on shares of Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a research note on Friday, November 22nd. Finally, Loop Capital lowered their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $117.00.

Insider Buying and Selling

In related news, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the transaction, the vice president now owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. The trade was a 32.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now directly owns 27,626 shares of the company’s stock, valued at $2,667,290.30. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock worth $1,614,975 in the last three months. Corporate insiders own 2.56% of the company’s stock.

Atkore Stock Down 0.3 %

ATKR stock opened at $93.88 on Wednesday. The company’s 50 day moving average is $88.84 and its two-hundred day moving average is $109.68. The stock has a market cap of $3.28 billion, a P/E ratio of 7.43 and a beta of 2.10. Atkore Inc. has a twelve month low of $76.01 and a twelve month high of $194.98. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR) last issued its earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. During the same quarter in the previous year, the firm posted $3.63 earnings per share. Atkore’s revenue for the quarter was down 9.4% on a year-over-year basis. Research analysts expect that Atkore Inc. will post 6.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be given a $0.32 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.36%. Atkore’s dividend payout ratio is presently 10.13%.

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.