Atkore Inc. (NYSE:ATKR) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its holdings in Atkore Inc. (NYSE:ATKR) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,523 shares of the company’s stock after buying an additional 256 shares during the quarter. Glenmede Trust Co. NA’s holdings in Atkore were worth $383,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Atkore in the second quarter worth approximately $57,000. Mather Group LLC. increased its position in shares of Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after acquiring an additional 421 shares in the last quarter. Signaturefd LLC increased its position in shares of Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after acquiring an additional 401 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after acquiring an additional 390 shares in the last quarter.

Atkore Trading Down 0.2 %

Shares of NYSE ATKR opened at $93.65 on Thursday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 7.41 and a beta of 2.10. The business has a 50 day simple moving average of $89.04 and a 200 day simple moving average of $109.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. Atkore Inc. has a 52 week low of $76.01 and a 52 week high of $194.98.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The business had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The business’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.63 earnings per share. On average, research analysts predict that Atkore Inc. will post 6.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.37%. Atkore’s dividend payout ratio is currently 10.13%.

Insiders Place Their Bets

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares of the company’s stock, valued at $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock valued at $1,614,975 over the last quarter. Insiders own 2.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ATKR shares. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday. Loop Capital dropped their target price on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, KeyCorp dropped their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Atkore presently has a consensus rating of “Hold” and an average price target of $118.80.

About Atkore

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.