Atkore Inc. (NYSE:ATKR) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 59.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,626 shares of the company’s stock after selling 5,255 shares during the quarter. Truist Financial Corp’s holdings in Atkore were worth $303,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Atkore by 17.4% during the fourth quarter. Principal Financial Group Inc. now owns 56,168 shares of the company’s stock valued at $4,687,000 after acquiring an additional 8,343 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Atkore by 22.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 24,318 shares of the company’s stock valued at $2,029,000 after purchasing an additional 4,514 shares in the last quarter. Meixler Investment Management Ltd. lifted its holdings in Atkore by 27.3% in the 4th quarter. Meixler Investment Management Ltd. now owns 5,164 shares of the company’s stock valued at $431,000 after purchasing an additional 1,108 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Atkore by 10.9% during 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. Finally, Peterson Wealth Services grew its holdings in shares of Atkore by 12.4% during the fourth quarter. Peterson Wealth Services now owns 6,847 shares of the company’s stock worth $571,000 after buying an additional 757 shares in the last quarter.

Analyst Upgrades and Downgrades

ATKR has been the topic of a number of analyst reports. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. KeyCorp decreased their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Mkm began coverage on Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Finally, B. Riley cut Atkore from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Five research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $103.17.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred 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 owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.99% of the stock is owned by insiders.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $62.32 on Thursday. The business has a 50-day moving average of $75.94 and a two-hundred day moving average of $84.27. The firm has a market capitalization of $2.16 billion, a PE ratio of 6.03 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore Inc. has a 12 month low of $55.91 and a 12 month high of $194.98.

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

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 2.05%. Atkore’s dividend payout ratio (DPR) is 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.