Atkore Inc. (NYSE:ATKR) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its stake in Atkore Inc. (NYSE:ATKR) by 39.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 198,273 shares of the company’s stock after selling 129,089 shares during the quarter. Federated Hermes Inc. owned approximately 0.54% of Atkore worth $26,753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of Atkore by 36.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 23,617 shares of the company’s stock worth $3,089,000 after acquiring an additional 6,337 shares in the last quarter. BOKF NA boosted its stake in Atkore by 138.4% in the 2nd quarter. BOKF NA now owns 5,206 shares of the company’s stock worth $702,000 after purchasing an additional 3,022 shares during the period. Qsemble Capital Management LP purchased a new position in Atkore during the 2nd quarter worth approximately $683,000. American Century Companies Inc. raised its stake in Atkore by 22.9% during the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after purchasing an additional 144,283 shares during the period. Finally, Factorial Partners LLC lifted its holdings in shares of Atkore by 15.7% in the second quarter. Factorial Partners LLC now owns 15,500 shares of the company’s stock valued at $2,091,000 after purchasing an additional 2,100 shares in the last quarter.

Atkore Stock Performance

Shares of ATKR stock opened at $86.36 on Monday. Atkore Inc. has a fifty-two week low of $80.11 and a fifty-two week high of $194.98. The stock’s 50-day moving average is $111.41 and its two-hundred day moving average is $144.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The firm has a market cap of $3.10 billion, a P/E ratio of 5.38 and a beta of 2.14.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. The firm had revenue of $822.40 million for the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.13 earnings per share. Analysts predict that Atkore Inc. will post 12.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio is presently 7.98%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the sale, the insider now owns 28,086 shares of the company’s stock, valued at $2,681,370.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ATKR. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. KeyCorp lowered their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, B. Riley reduced their price target on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Atkore presently has an average rating of “Hold” and a consensus price target of $132.00.

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.