Handelsbanken Fonder AB Has $912,000 Stake in Atkore Inc. (NYSE:ATKR)

Handelsbanken Fonder AB decreased its position in Atkore Inc. (NYSE:ATKR) by 25.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,700 shares of the company’s stock after selling 1,900 shares during the period. Handelsbanken Fonder AB’s holdings in Atkore were worth $912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ATKR. Orion Capital Management LLC acquired a new position in Atkore in the third quarter valued at $30,000. Anchor Investment Management LLC acquired a new position in Atkore in the fourth quarter valued at $32,000. NBC Securities Inc. acquired a new position in Atkore in the third quarter valued at $54,000. McGlone Suttner Wealth Management Inc. acquired a new position in Atkore in the fourth quarter valued at $72,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Atkore by 34.9% in the third quarter. Parkside Financial Bank & Trust now owns 533 shares of the company’s stock valued at $80,000 after buying an additional 138 shares during the period.

Insider Buying and Selling

In related news, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the sale, the vice president now owns 25,590 shares in the company, valued at approximately $4,505,631.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Atkore news, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the sale, the vice president now directly owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William E. Jr. Waltz sold 50,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $173.85, for a total transaction of $8,692,500.00. Following the completion of the sale, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at $14,554,026.60. The disclosure for this sale can be found here. Insiders have sold 148,464 shares of company stock worth $25,124,751 in the last quarter. Insiders own 2.56% of the company’s stock.

Atkore Price Performance

Shares of NYSE ATKR opened at $182.99 on Monday. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 1-year low of $116.14 and a 1-year high of $194.98. The firm has a market capitalization of $6.73 billion, a P/E ratio of 10.97 and a beta of 2.19. The firm’s 50-day moving average price is $173.49 and its 200-day moving average price is $153.50.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, February 1st. The company reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $1.04. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The company had revenue of $798.50 million for the quarter, compared to analyst estimates of $777.05 million. During the same quarter in the prior year, the business posted $4.51 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a $0.32 dividend. The ex-dividend date was Monday, February 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.70%. Atkore’s dividend payout ratio is presently 7.67%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 price objective on shares of Atkore in a report on Friday, March 22nd. Finally, Citigroup upped their price objective on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 8th.

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.