Atkore Inc. (NYSE:ATKR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of Atkore Inc. (NYSE:ATKR) by 44.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 346,957 shares of the company’s stock after selling 273,946 shares during the period. JPMorgan Chase & Co. owned 1.00% of Atkore worth $29,401,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ATKR. Signaturefd LLC lifted its holdings in shares of Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after buying an additional 401 shares during the period. Quarry LP lifted its holdings in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares during the last quarter. Covestor Ltd lifted its holdings in Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after acquiring an additional 390 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after purchasing an additional 805 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Atkore in the 3rd quarter worth approximately $126,000.

Atkore Trading Up 0.4 %

NYSE:ATKR opened at $86.95 on Wednesday. The company has a market capitalization of $3.02 billion, a P/E ratio of 6.88 and a beta of 2.13. The stock’s 50 day moving average price is $88.58 and its 200 day moving average price is $99.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. Atkore Inc. has a 52 week low of $76.01 and a 52 week high of $194.98.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). The business had revenue of $788.30 million during the quarter, compared to analyst estimates of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.63 EPS. On average, research analysts forecast that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, December 6th. Atkore’s payout ratio is 10.13%.

Insider Buying and Selling

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the sale, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the transaction, the director now directly owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,924 shares of company stock valued at $1,614,975. Company insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ATKR. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Roth Mkm initiated coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

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.