Victory Capital Management Inc. Sells 108,582 Shares of Atkore Inc. (NYSE:ATKR)

Victory Capital Management Inc. trimmed its stake in Atkore Inc. (NYSE:ATKR) by 27.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 289,129 shares of the company’s stock after selling 108,582 shares during the quarter. Victory Capital Management Inc.’s holdings in Atkore were worth $46,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ATKR. GAMMA Investing LLC bought a new position in shares of Atkore during the 4th quarter worth approximately $26,000. Orion Capital Management LLC bought a new position in shares of Atkore during the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC bought a new position in shares of Atkore during the 4th quarter worth approximately $32,000. NBC Securities Inc. bought a new position in shares of Atkore during the 3rd quarter worth approximately $54,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Atkore during the 4th quarter worth approximately $72,000.

Analysts Set New Price Targets

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

Insider Buying and Selling at Atkore

In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the completion of the transaction, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William E. Jr. Waltz sold 43,072 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the completion of the transaction, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William E. Jr. Waltz sold 50,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $173.85, for a total value of $8,692,500.00. Following the transaction, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $14,554,026.60. The disclosure for this sale can be found here. Insiders sold 148,464 shares of company stock valued at $25,124,751 in the last three months. Corporate insiders own 2.56% of the company’s stock.

Atkore Price Performance

Shares of NYSE ATKR opened at $176.25 on Monday. The stock has a market capitalization of $6.48 billion, a PE ratio of 10.57 and a beta of 2.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. The business has a fifty day moving average price of $176.60 and a two-hundred day moving average price of $154.88. Atkore Inc. has a fifty-two week low of $116.14 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Thursday, February 1st. The company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.08 by $1.04. The firm had revenue of $798.50 million during the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.51 EPS. As a group, equities analysts predict that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.28 annualized dividend and a yield of 0.73%. Atkore’s dividend payout ratio is presently 7.67%.

Atkore Company 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.