Atkore Inc. (NYSE:ATKR) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its position in Atkore Inc. (NYSE:ATKR) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,504 shares of the company’s stock after selling 415 shares during the quarter. QRG Capital Management Inc.’s holdings in Atkore were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ATKR. Quarry LP lifted its stake in Atkore by 48.8% in the third 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. Pacer Advisors Inc. lifted its stake in Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after acquiring an additional 195 shares during the last quarter. Covestor Ltd lifted its stake in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after acquiring an additional 390 shares during the last quarter. KBC Group NV lifted its stake in Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Atkore in the third quarter worth approximately $143,000.

Analyst Upgrades and Downgrades

ATKR has been the subject of several recent analyst reports. KeyCorp reduced their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Finally, Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and cut their target price for the company from $115.00 to $65.00 in a report on Monday, February 10th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.17.

Insider Buying and Selling at Atkore

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

Atkore Stock Performance

Shares of ATKR opened at $64.96 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The stock has a market capitalization of $2.26 billion, a P/E ratio of 6.29 and a beta of 2.22. The company’s fifty day moving average is $75.19 and its two-hundred day moving average is $83.91. Atkore Inc. has a 1 year low of $55.91 and a 1 year high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. Atkore’s revenue was down 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.12 EPS. On average, sell-side analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.97%. Atkore’s dividend payout ratio is currently 12.39%.

Atkore 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.