Sei Investments Co. Reduces Stake in Atkore Inc. (NYSE:ATKR)

Sei Investments Co. trimmed its position in Atkore Inc. (NYSE:ATKR) by 47.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,090 shares of the company’s stock after selling 24,896 shares during the period. Sei Investments Co. owned approximately 0.08% of Atkore worth $2,261,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atkore by 10.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after purchasing an additional 134,517 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Atkore by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock worth $44,243,000 after purchasing an additional 50,194 shares during the period. Victory Capital Management Inc. increased its stake in Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after acquiring an additional 459,200 shares during the period. Royce & Associates LP increased its holdings in Atkore by 4.2% during the 4th quarter. Royce & Associates LP now owns 412,752 shares of the company’s stock valued at $34,444,000 after purchasing an additional 16,698 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its position in shares of Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after purchasing an additional 113,263 shares in the last quarter.

Atkore Trading Down 2.0 %

Shares of ATKR stock opened at $53.90 on Friday. Atkore Inc. has a 52-week low of $50.44 and a 52-week high of $185.47. The business’s fifty day moving average is $66.40 and its 200 day moving average is $79.93. 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 company has a market capitalization of $1.87 billion, a PE ratio of 5.22 and a beta of 2.02.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same quarter last year, the company posted $4.12 EPS. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, equities research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors 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 2.37%. Atkore’s dividend payout ratio is presently 12.39%.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ATKR shares. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and dropped their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. KeyCorp dropped 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. Finally, Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Atkore has an average rating of “Moderate Buy” and a consensus price target of $103.17.

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.