Atkore Inc. (NYSE:ATKR) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 39.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,281 shares of the company’s stock after selling 6,042 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Atkore were worth $1,252,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its stake in Atkore by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 200,175 shares of the company’s stock worth $32,028,000 after acquiring an additional 3,036 shares in the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of Atkore during the second quarter worth about $4,158,000. Capital World Investors purchased a new stake in shares of Atkore in the 1st quarter valued at about $14,986,000. Sei Investments Co. grew its stake in Atkore by 44.3% during the 1st quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock worth $12,547,000 after buying an additional 20,244 shares during the last quarter. Finally, Boston Trust Walden Corp purchased a new position in Atkore during the 2nd quarter worth approximately $23,306,000.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.56% of the stock is currently owned by corporate insiders.

Atkore Trading Down 0.4 %

NYSE:ATKR opened at $82.78 on Thursday. Atkore Inc. has a 12-month low of $80.11 and a 12-month high of $194.98. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $113.25 and its 200-day simple moving average is $145.21. The firm has a market cap of $2.97 billion, a P/E ratio of 5.16 and a beta of 2.15.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.28. The company had revenue of $822.40 million for the quarter, compared to analysts’ expectations of $830.16 million. Atkore had a net margin of 16.47% and a return on equity of 36.96%. Atkore’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.13 EPS. Equities analysts anticipate that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.55%. Atkore’s dividend payout ratio is currently 7.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ATKR shares. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. B. Riley decreased their price target on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, KeyCorp lowered their price objective on shares of Atkore from $175.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $137.00.

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.