Atkore Inc. (NYSE:ATKR) Holdings Cut by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in shares of Atkore Inc. (NYSE:ATKR) by 23.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 10,232 shares of the company’s stock after selling 3,170 shares during the period. Cetera Investment Advisers’ holdings in Atkore were worth $1,381,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Arizona State Retirement System grew its stake in Atkore by 0.8% in the second quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock valued at $1,389,000 after purchasing an additional 85 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Atkore by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock worth $667,000 after buying an additional 99 shares during the last quarter. Opinicus Capital Inc. increased its holdings in Atkore by 3.8% in the first quarter. Opinicus Capital Inc. now owns 3,263 shares of the company’s stock worth $621,000 after buying an additional 118 shares during the last quarter. Meixler Investment Management Ltd. raised its position in Atkore by 6.5% during the second quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock valued at $263,000 after acquiring an additional 119 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Atkore by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock valued at $555,000 after acquiring an additional 129 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Atkore Stock Down 1.5 %

ATKR stock opened at $85.59 on Wednesday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 5.34 and a beta of 2.14. The company has a 50-day moving average of $89.27 and a two-hundred day moving average of $129.84. Atkore Inc. has a 52-week low of $80.11 and a 52-week high of $194.98. 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 (NYSE:ATKR) last released its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. The firm had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.13 EPS. As a group, equities research analysts anticipate that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is currently 7.98%.

Insider Activity at Atkore

In other 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 transaction of $47,735.00. Following the transaction, the insider now owns 28,086 shares in the company, valued at approximately $2,681,370.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.56% of the company’s stock.

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.