Commonwealth Equity Services LLC Buys 129 Shares of Atkore Inc. (NYSE:ATKR)

Commonwealth Equity Services LLC boosted its position in Atkore Inc. (NYSE:ATKR) by 3.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,115 shares of the company’s stock after purchasing an additional 129 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Atkore were worth $555,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in shares of Atkore during the 4th quarter worth approximately $66,000. Avantax Advisory Services Inc. acquired a new position in shares of Atkore during the fourth quarter worth $284,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Atkore by 27.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,147 shares of the company’s stock valued at $344,000 after purchasing an additional 466 shares during the last quarter. Brown Advisory Inc. acquired a new stake in shares of Atkore in the 4th quarter worth $289,000. Finally, Norges Bank purchased a new position in Atkore during the 4th quarter worth $68,109,000.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of research analyst reports. KeyCorp decreased their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Loop Capital decreased their price objective on shares of Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada downgraded shares of Atkore from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Finally, B. Riley decreased their price target on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.60.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now directly owns 28,086 shares of the company’s stock, valued at $2,681,370.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.56% of the company’s stock.

Atkore Price Performance

Shares of NYSE ATKR opened at $87.02 on Friday. Atkore Inc. has a 52 week low of $80.11 and a 52 week high of $194.98. The business’s 50 day moving average price is $106.42 and its 200 day moving average price is $141.45. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.17 billion, a P/E ratio of 5.43 and a beta of 2.15.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The business had revenue of $822.40 million for the quarter, compared to the consensus estimate of $830.16 million. During the same period in the prior year, the firm earned $5.13 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, sell-side analysts expect that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. Atkore’s payout ratio is currently 7.98%.

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.