Hsbc Holdings PLC Raises Position in Atkore Inc. (NYSE:ATKR)

Hsbc Holdings PLC grew its position in Atkore Inc. (NYSE:ATKRFree Report) by 486.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,522 shares of the company’s stock after buying an additional 13,705 shares during the period. Hsbc Holdings PLC’s holdings in Atkore were worth $2,652,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC purchased a new position in Atkore in the fourth quarter worth about $26,000. Orion Capital Management LLC purchased a new position in shares of Atkore during the third quarter valued at approximately $30,000. Anchor Investment Management LLC purchased a new position in shares of Atkore during the fourth quarter valued at approximately $32,000. Montag A & Associates Inc. purchased a new position in shares of Atkore during the fourth quarter valued at approximately $58,000. Finally, Principal Securities Inc. purchased a new position in shares of Atkore during the fourth quarter valued at approximately $66,000.

Atkore Stock Performance

Shares of NYSE ATKR opened at $141.73 on Friday. The firm has a 50 day moving average of $166.59 and a 200 day moving average of $158.64. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 8.84 and a beta of 2.16. Atkore Inc. has a 12-month low of $121.00 and a 12-month high of $194.98.

Atkore (NYSE:ATKRGet Free Report) last announced its earnings results on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.86. The company had revenue of $792.90 million during the quarter, compared to analyst estimates of $808.22 million. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.31 earnings per share. On average, research analysts anticipate that Atkore Inc. will post 14.93 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.28 annualized dividend and a yield of 0.90%. Atkore’s dividend payout ratio (DPR) is 7.98%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total value of $78,835.00. Following the completion of the transaction, the insider now directly owns 28,586 shares in the company, valued at $4,507,154.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total transaction of $78,835.00. Following the completion of the transaction, the insider now owns 28,586 shares in the company, valued at $4,507,154.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the transaction, the vice president now owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. Insiders sold a total of 8,099 shares of company stock worth $1,412,065 over the last three months. 2.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ATKR. Citigroup decreased their price objective on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. StockNews.com cut shares of Atkore from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $187.00 price objective on shares of Atkore in a report on Friday, March 22nd.

Read Our Latest Analysis on Atkore

About Atkore

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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