Millennium Management LLC Grows Holdings in Atkore Inc. (NYSE:ATKR)

Millennium Management LLC lifted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 84.4% during the second quarter, Holdings Channel reports. The fund owned 181,120 shares of the company’s stock after purchasing an additional 82,903 shares during the quarter. Millennium Management LLC’s holdings in Atkore were worth $24,439,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ATKR. Hsbc Holdings PLC increased its holdings in Atkore by 486.5% during the 4th 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 last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Atkore in the fourth quarter worth $674,000. First Trust Advisors LP raised 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 valued at $42,923,000 after acquiring an additional 13,659 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Atkore by 311.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,264 shares of the company’s stock valued at $1,642,000 after purchasing an additional 7,767 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new position in Atkore during the 4th quarter worth approximately $302,000.

Analyst Upgrades and Downgrades

ATKR has been the topic of several research analyst reports. Loop Capital reduced their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. B. Riley lowered their price objective 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. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, KeyCorp reduced their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Atkore has a consensus rating of “Moderate Buy” and a consensus target price of $131.60.

Atkore Stock Down 1.2 %

ATKR opened at $82.48 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. Atkore Inc. has a 12 month low of $80.11 and a 12 month high of $194.98. The stock’s 50 day moving average price is $95.90 and its 200 day moving average price is $136.08. The stock has a market cap of $3.00 billion, a P/E ratio of 5.14 and a beta of 2.14.

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

Atkore Announces Dividend

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

Insider Transactions at Atkore

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

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.