Atkore Inc. (NYSE:ATKR) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its position in shares of Atkore Inc. (NYSE:ATKR) by 51.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,243 shares of the company’s stock after selling 3,454 shares during the quarter. Mackenzie Financial Corp’s holdings in Atkore were worth $519,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in Atkore during the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new position in Atkore during the fourth quarter worth $32,000. NBC Securities Inc. purchased a new position in Atkore in the third quarter worth $54,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Atkore in the fourth quarter valued at $72,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Atkore by 34.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 533 shares of the company’s stock worth $80,000 after purchasing an additional 138 shares in the last quarter.

Atkore Stock Up 1.0 %

Shares of NYSE ATKR opened at $183.04 on Friday. The firm has a market cap of $6.73 billion, a P/E ratio of 10.97 and a beta of 2.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96. Atkore Inc. has a 1 year low of $116.14 and a 1 year high of $194.98. The firm’s 50 day moving average price is $173.49 and its 200 day moving average price is $153.41.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $1.04. The business had revenue of $798.50 million for the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.51 earnings per share. As a group, sell-side analysts anticipate that Atkore Inc. will post 15.06 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Monday, February 26th. Atkore’s dividend payout ratio is currently 7.67%.

Insider Activity

In related news, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.07, for a total value of $1,503,112.95. Following the sale, the vice president now directly owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Atkore news, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the completion of the sale, the vice president now owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the transaction, the vice president now owns 34,907 shares in the company, valued at $6,041,354.49. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock valued at $25,124,751 in the last 90 days. 2.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ATKR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 price target on shares of Atkore in a report on Friday, March 22nd. StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Citigroup boosted their price target on Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th.

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.