Atkore Inc. (NYSE:ATKR) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its position in Atkore Inc. (NYSE:ATKR) by 59.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,903 shares of the company’s stock after selling 11,483 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Atkore were worth $1,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ATKR. Hsbc Holdings PLC raised its holdings in shares of Atkore by 486.5% during the fourth quarter. Hsbc Holdings PLC now owns 16,522 shares of the company’s stock worth $2,652,000 after purchasing an additional 13,705 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Atkore during the fourth quarter worth about $674,000. First Trust Advisors LP lifted its holdings in Atkore by 5.4% in the fourth quarter. First Trust Advisors LP now owns 268,268 shares of the company’s stock worth $42,923,000 after acquiring an additional 13,659 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Atkore by 311.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,264 shares of the company’s stock valued at $1,642,000 after acquiring an additional 7,767 shares during the period. Finally, Vinva Investment Management Ltd bought a new position in shares of Atkore during the fourth quarter valued at approximately $302,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ATKR shares. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Loop Capital reduced their price target on shares of Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, September 20th. B. Riley dropped their price objective on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, KeyCorp reduced their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Atkore presently has an average rating of “Moderate Buy” and an average price target of $131.60.

Insider Transactions at Atkore

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

Atkore Price Performance

Shares of ATKR opened at $82.48 on Friday. Atkore Inc. has a one year low of $80.11 and a one year high of $194.98. The stock’s fifty day moving average is $95.90 and its 200-day moving average is $136.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 5.14 and a beta of 2.14.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. The company had revenue of $822.40 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $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. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Tuesday, August 20th. Atkore’s payout ratio is currently 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.