Stifel Financial Corp Sells 7,092 Shares of Atkore Inc. (NYSE:ATKR)

Stifel Financial Corp reduced its stake in shares of Atkore Inc. (NYSE:ATKR) by 55.3% during 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 5,729 shares of the company’s stock after selling 7,092 shares during the period. Stifel Financial Corp’s holdings in Atkore were worth $485,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in shares of Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after buying an additional 401 shares during the last quarter. Quarry LP lifted its position in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after acquiring an additional 208 shares during the last quarter. Covestor Ltd boosted its holdings in Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after acquiring an additional 390 shares during the period. Headlands Technologies LLC grew its position in shares of 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 during the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Atkore in the third quarter valued at about $126,000.

Wall Street Analysts Forecast Growth

ATKR has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Loop Capital dropped their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Roth Mkm started coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Finally, KeyCorp decreased their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now owns 27,528 shares in the company, valued at approximately $2,635,530.72. This trade represents a 32.20 % 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 over the last three months. Company insiders own 1.99% of the company’s stock.

Atkore Stock Up 0.8 %

Shares of ATKR stock opened at $83.90 on Friday. Atkore Inc. has a one year low of $76.01 and a one year high of $194.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The stock has a fifty day moving average price of $89.16 and a 200 day moving average price of $102.83. The stock has a market cap of $2.91 billion, a P/E ratio of 6.64 and a beta of 2.10.

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

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, December 6th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, December 6th. Atkore’s dividend payout ratio is 10.13%.

Atkore Company 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.