Federated Hermes Inc. Purchases 105,831 Shares of Atkore Inc. $ATKR

Federated Hermes Inc. boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 50.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,250 shares of the company’s stock after acquiring an additional 105,831 shares during the period. Federated Hermes Inc. owned 0.94% of Atkore worth $22,241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ATKR. Gates Capital Management Inc. boosted its holdings in Atkore by 25.2% in the 1st quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company’s stock valued at $195,871,000 after purchasing an additional 657,707 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Atkore in the second quarter worth $21,453,000. JPMorgan Chase & Co. grew its position in Atkore by 109.2% during the second quarter. JPMorgan Chase & Co. now owns 535,162 shares of the company’s stock worth $37,756,000 after buying an additional 279,385 shares in the last quarter. First Trust Advisors LP increased its stake in Atkore by 13.9% in the 2nd quarter. First Trust Advisors LP now owns 1,757,797 shares of the company’s stock worth $124,013,000 after acquiring an additional 213,858 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Atkore during the 1st quarter valued at about $11,502,000.

Atkore Trading Down 0.4%

NYSE ATKR opened at $63.54 on Wednesday. The firm has a market cap of $2.14 billion, a PE ratio of -122.19 and a beta of 1.57. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $90.66. The stock has a 50-day moving average of $65.52 and a 200-day moving average of $65.80. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.54.

Atkore (NYSE:ATKR) last announced its quarterly 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). The company had revenue of $752.01 million during the quarter, compared to analysts’ expectations of $733.61 million. Atkore had a positive return on equity of 12.98% and a negative net margin of 0.53%.Atkore’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $2.43 earnings per share. As a group, sell-side analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, December 5th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.32 annualized dividend and a yield of 2.1%. Atkore’s dividend payout ratio is presently -253.85%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $64.75, for a total value of $64,750.00. Following the transaction, the insider owned 29,923 shares in the company, valued at approximately $1,937,514.25. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.99% of the stock is currently owned by company insiders.

Atkore Company 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.