Edgestream Partners L.P. Sells 36,051 Shares of Atkore Inc. $ATKR

Edgestream Partners L.P. decreased its stake in shares of Atkore Inc. (NYSE:ATKR) by 50.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,815 shares of the company’s stock after selling 36,051 shares during the period. Edgestream Partners L.P. owned approximately 0.11% of Atkore worth $2,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dogwood Wealth Management LLC purchased a new stake in Atkore in the second quarter worth about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Atkore in the 2nd quarter worth approximately $28,000. Strs Ohio purchased a new position in shares of Atkore in the 1st quarter valued at approximately $36,000. New Age Alpha Advisors LLC bought a new stake in shares of Atkore during the first quarter valued at approximately $37,000. Finally, Jones Financial Companies Lllp grew its stake in Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares during the period.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $64.75, for a total value of $64,750.00. Following the transaction, the insider directly owned 29,923 shares of the company’s stock, valued at approximately $1,937,514.25. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.99% of the company’s stock.

Atkore Price Performance

ATKR opened at $64.72 on Friday. The stock has a 50-day moving average price of $65.39 and a 200-day moving average price of $65.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.05 and a quick ratio of 2.13. The firm has a market cap of $2.18 billion, a PE ratio of -124.46 and a beta of 1.57. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $94.20.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.61). The firm had revenue of $752.01 million for the quarter, compared to analysts’ expectations of $733.61 million. Atkore had a negative net margin of 0.53% and a positive return on equity of 12.98%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the company posted $2.43 earnings per share. Sell-side analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors 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 payout ratio is presently -253.85%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ATKR shares. Weiss Ratings lowered Atkore from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday. Roth Capital decreased their price target on shares of Atkore from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Citigroup lowered their price target on shares of Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Finally, KeyCorp restated a “sector weight” rating on shares of Atkore in a report on Friday, November 14th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.00.

About Atkore

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.