Park Avenue Securities LLC Sells 4,652 Shares of Atkore Inc. (NYSE:ATKR)

Park Avenue Securities LLC trimmed its stake in shares of Atkore Inc. (NYSE:ATKR) by 64.5% during the third quarter, Holdings Channel.com reports. The firm owned 2,555 shares of the company’s stock after selling 4,652 shares during the period. Park Avenue Securities LLC’s holdings in Atkore were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ATKR. HighPoint Advisor Group LLC bought a new position in Atkore in the fourth quarter valued at about $252,000. Kapitalo Investimentos Ltda raised its position in shares of Atkore by 2,658.8% during the fourth quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company’s stock worth $150,000 after purchasing an additional 904 shares during the period. Banque Cantonale Vaudoise raised its position in shares of Atkore by 534.7% during the first quarter. Banque Cantonale Vaudoise now owns 2,869 shares of the company’s stock worth $546,000 after purchasing an additional 2,417 shares during the period. RFG Advisory LLC grew its position in shares of Atkore by 8.9% in the 1st quarter. RFG Advisory LLC now owns 2,164 shares of the company’s stock valued at $412,000 after purchasing an additional 177 shares during the period. Finally, Steph & Co. increased its stake in Atkore by 14.4% during the 1st quarter. Steph & Co. now owns 1,739 shares of the company’s stock worth $331,000 after purchasing an additional 219 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of Atkore 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 completion of the transaction, the insider now owns 28,086 shares of the company’s stock, valued at $2,681,370.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.56% of the company’s stock.

Analyst Upgrades and Downgrades

ATKR has been the subject of several research reports. Loop Capital lowered their price objective on shares of Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. B. Riley lowered their target price on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, KeyCorp decreased their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.60.

Atkore Trading Down 0.4 %

Shares of NYSE:ATKR opened at $86.86 on Tuesday. The stock has a market capitalization of $3.16 billion, a PE ratio of 5.42 and a beta of 2.14. The company’s 50-day moving average price is $89.58 and its two-hundred day moving average price is $130.58. 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 one year low of $80.11 and a one year high of $194.98.

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

Atkore Dividend Announcement

The company also recently announced 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 of this dividend was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. Atkore’s payout ratio is 7.98%.

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.