Atkore Inc. (NYSE:ATKR) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its holdings in Atkore Inc. (NYSE:ATKR) by 42.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,300 shares of the company’s stock after selling 2,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Atkore were worth $275,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Quarry LP raised its position in Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares during the period. Pacer Advisors Inc. grew its position in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after purchasing an additional 195 shares during the last quarter. Covestor Ltd increased its stake in shares of Atkore by 63.7% in 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 period. KBC Group NV boosted its position in shares of Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after acquiring an additional 469 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new stake in Atkore in the 3rd quarter worth $126,000.

Atkore Stock Down 4.1 %

Shares of ATKR stock opened at $58.98 on Tuesday. Atkore Inc. has a 52-week low of $58.49 and a 52-week high of $194.98. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 5.71 and a beta of 2.12. The firm’s 50-day moving average is $76.83 and its 200-day moving average is $84.68. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the prior year, the business earned $4.12 EPS. Atkore’s quarterly revenue was down 17.1% on a year-over-year basis. Sell-side analysts predict that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s payout ratio is currently 12.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ATKR shares. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. KeyCorp reduced their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Roth Mkm began coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.17.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.99% of the stock is currently owned by insiders.

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.