Nuveen Asset Management LLC Has $15.40 Million Stock Holdings in Atkore Inc. (NYSE:ATKR)

Nuveen Asset Management LLC cut its position in Atkore Inc. (NYSE:ATKR) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,590 shares of the company’s stock after selling 18,570 shares during the period. Nuveen Asset Management LLC owned 0.53% of Atkore worth $15,404,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in shares of Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after buying an additional 186 shares during the period. Pacer Advisors Inc. grew its stake in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares during the period. Harbour Investments Inc. grew its stake in shares of Atkore by 3,333.3% in the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the period. KBC Group NV grew its stake in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after buying an additional 469 shares during the period. Finally, Covestor Ltd grew its stake in shares of Atkore by 88.5% in the 4th quarter. Covestor Ltd now owns 1,889 shares of the company’s stock valued at $157,000 after buying an additional 887 shares during the period.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.16, for a total value of $69,160.00. Following the sale, the insider now owns 32,828 shares of the company’s stock, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. KeyCorp raised their target price on Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Citigroup cut their price target on Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Roth Capital set a $78.00 price target on Atkore and gave the company a “buy” rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and cut their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.57.

Atkore Price Performance

Atkore stock opened at $65.30 on Monday. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $157.25. The company’s 50 day moving average price is $62.56 and its two-hundred day moving average price is $73.67. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.20 billion, a P/E ratio of 6.32 and a beta of 2.10.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm had revenue of $701.73 million for the quarter, compared to analysts’ expectations of $690.83 million. During the same quarter last year, the firm earned $4.08 EPS. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, equities analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, May 16th. This is a boost from Atkore’s previous quarterly dividend of $0.32. Atkore’s payout ratio is 25.38%.

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.