Creative Planning Raises Holdings in Atkore Inc. $ATKR

Creative Planning grew its holdings in Atkore Inc. (NYSE:ATKR) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,592 shares of the company’s stock after buying an additional 1,697 shares during the quarter. Creative Planning owned about 0.06% of Atkore worth $1,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey lifted its holdings in Atkore by 8.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,992 shares of the company’s stock valued at $564,000 after acquiring an additional 654 shares during the period. Vise Technologies Inc. purchased a new position in shares of Atkore in the 2nd quarter valued at about $250,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Atkore in the second quarter valued at about $28,000. Bank of New York Mellon Corp boosted its holdings in Atkore by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 244,676 shares of the company’s stock worth $17,262,000 after buying an additional 4,279 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in Atkore during the second quarter worth about $448,000.

Atkore Trading Up 0.1%

Shares of Atkore stock opened at $66.95 on Friday. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $95.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 2.08. The business has a 50 day moving average price of $65.02 and a 200 day moving average price of $65.99. The company has a market capitalization of $2.25 billion, a P/E ratio of 21.46 and a beta of 2.12.

Atkore (NYSE:ATKR) last announced its earnings results on Wednesday, November 19th. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.61). Atkore had a net margin of 3.89% and a return on equity of 16.16%. The company had revenue of $752.01 million for the quarter, compared to analyst estimates of $733.61 million. During the same quarter last year, the company posted $2.43 EPS. Atkore’s quarterly revenue was down 4.6% compared to the same quarter last year. Sell-side analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, December 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, December 5th. Atkore’s dividend payout ratio is -253.85%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ATKR shares. Citigroup dropped their target price on shares of Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, November 21st. KeyCorp reaffirmed a “sector weight” rating on shares of Atkore in a research note on Friday, November 14th. Weiss Ratings raised Atkore from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, Roth Capital lowered their target price on Atkore from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $74.00.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $64.75, for a total transaction of $64,750.00. Following the sale, the insider directly owned 29,923 shares of the company’s stock, valued at $1,937,514.25. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.99% of the company’s stock.

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.