Steward Partners Investment Advisory LLC Lowers Holdings in Atkore Inc. (NYSE:ATKR)

Steward Partners Investment Advisory LLC trimmed its position in Atkore Inc. (NYSE:ATKRFree Report) by 17.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,366 shares of the company’s stock after selling 702 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Atkore were worth $539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cornercap Investment Counsel Inc. lifted its holdings in Atkore by 1.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 5,017 shares of the company’s stock valued at $803,000 after acquiring an additional 63 shares during the period. Ritholtz Wealth Management lifted its holdings in Atkore by 3.5% in the fourth quarter. Ritholtz Wealth Management now owns 2,042 shares of the company’s stock valued at $327,000 after acquiring an additional 69 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Atkore by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company’s stock valued at $765,000 after acquiring an additional 69 shares during the period. Riverwater Partners LLC lifted its holdings in Atkore by 0.6% in the fourth quarter. Riverwater Partners LLC now owns 13,245 shares of the company’s stock valued at $2,119,000 after acquiring an additional 78 shares during the period. Finally, Navellier & Associates Inc. raised its stake in shares of Atkore by 0.7% during the 3rd quarter. Navellier & Associates Inc. now owns 11,837 shares of the company’s stock worth $1,766,000 after buying an additional 83 shares during the last quarter.

Atkore Stock Down 1.3 %

Shares of NYSE:ATKR opened at $141.73 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09. Atkore Inc. has a 1 year low of $121.00 and a 1 year high of $194.98. The stock has a market capitalization of $5.16 billion, a P/E ratio of 8.84 and a beta of 2.16. The stock has a 50-day simple moving average of $166.59 and a 200-day simple moving average of $158.64.

Atkore (NYSE:ATKRGet Free Report) last issued its earnings results on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The business had revenue of $792.90 million during the quarter, compared to analysts’ expectations of $808.22 million. During the same quarter in the previous year, the business earned $4.31 EPS. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. Equities analysts forecast that Atkore Inc. will post 14.93 earnings per share for the current year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Monday, May 20th. Atkore’s dividend payout ratio is presently 7.98%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ATKR shares. Citigroup cut their price target on Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 price target on shares of Atkore in a research note on Friday, March 22nd. Finally, StockNews.com downgraded shares of Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th.

Read Our Latest Stock Report on ATKR

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 stock was sold at an average price of $157.67, for a total value of $78,835.00. Following the transaction, the insider now directly owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The sale was disclosed in a filing 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 that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the sale, the insider now directly owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction that occurred on 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 directly owns 25,590 shares in the company, valued at $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 in the last 90 days. 2.56% of the stock is owned by company insiders.

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.

Further Reading

Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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