HighTower Advisors LLC Sells 223 Shares of Atkore Inc. (NYSE:ATKR)

HighTower Advisors LLC decreased its stake in Atkore Inc. (NYSE:ATKR) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,516 shares of the company’s stock after selling 223 shares during the period. HighTower Advisors LLC’s holdings in Atkore were worth $1,044,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in shares of Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 186 shares during the last quarter. Quarry LP grew its holdings 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. Pacer Advisors Inc. grew its holdings in Atkore by 30.2% during the 4th 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. KBC Group NV increased its position in Atkore by 47.7% in the 4th 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, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Atkore during the third quarter valued at $144,000.

Atkore Stock Performance

Shares of ATKR stock opened at $63.06 on Thursday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 6.10 and a beta of 2.22. Atkore Inc. has a 52 week low of $55.91 and a 52 week high of $194.98. The firm has a 50 day moving average of $70.14 and a 200-day moving average of $81.19. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

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

Atkore Dividend Announcement

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 dividend on an annualized basis and a yield of 2.03%. Atkore’s dividend payout ratio (DPR) is presently 12.39%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ATKR shares. KeyCorp reduced their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and decreased their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Roth Capital raised Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.99% of the company’s stock.

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.