Atkore Inc. (NYSE:ATKR) Holdings Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of Atkore Inc. (NYSE:ATKR) by 39.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,911 shares of the company’s stock after selling 1,906 shares during the period. PNC Financial Services Group Inc.’s holdings in Atkore were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Boston Partners grew its holdings in Atkore by 98.9% during the fourth quarter. Boston Partners now owns 1,197,025 shares of the company’s stock worth $191,329,000 after acquiring an additional 595,115 shares during the period. Norges Bank acquired a new position in Atkore during the fourth quarter worth about $68,109,000. River Road Asset Management LLC grew its holdings in Atkore by 14.1% during the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after acquiring an additional 155,508 shares during the period. Balyasny Asset Management L.P. grew its holdings in Atkore by 121.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 243,695 shares of the company’s stock worth $38,991,000 after acquiring an additional 133,622 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in Atkore by 1,569.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 99,600 shares of the company’s stock worth $14,859,000 after purchasing an additional 93,635 shares in the last quarter.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the completion of the sale, the insider now directly owns 28,586 shares in the company, valued at approximately $4,507,154.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Wilbert W. James, Jr. sold 599 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the transaction, the director now directly owns 15,695 shares in the company, valued at $2,404,944.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total value of $78,835.00. Following the transaction, the insider now owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The disclosure for this sale can be found here. 2.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ATKR shares. StockNews.com cut Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Citigroup dropped their price target on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 price target on shares of Atkore in a research note on Friday, March 22nd.

Atkore Trading Up 1.8 %

NYSE:ATKR opened at $132.53 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98. Atkore Inc. has a fifty-two week low of $121.00 and a fifty-two week high of $194.98. The stock’s 50-day moving average is $153.89 and its two-hundred day moving average is $159.25. The stock has a market cap of $4.83 billion, a PE ratio of 8.26 and a beta of 2.16.

Atkore (NYSE:ATKR) last released its earnings results on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The company had revenue of $792.90 million for the quarter, compared to analysts’ expectations of $808.22 million. During the same quarter in the previous year, the business posted $4.31 EPS. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, equities research analysts forecast that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.28 annualized dividend and a yield of 0.97%. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

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.