Stifel Financial Corp Sells 7,092 Shares of Atkore Inc. (NYSE:ATKR)

Stifel Financial Corp lowered its stake in shares of Atkore Inc. (NYSE:ATKR) by 55.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,729 shares of the company’s stock after selling 7,092 shares during the period. Stifel Financial Corp’s holdings in Atkore were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Atkore by 26.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after acquiring an additional 261,234 shares during the period. American Century Companies Inc. raised its holdings in Atkore by 22.9% in the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after purchasing an additional 144,283 shares during the period. Royce & Associates LP boosted its position in shares of Atkore by 20.2% during the third quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after purchasing an additional 66,533 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Atkore by 5.4% in the 2nd quarter. William Blair Investment Management LLC now owns 395,388 shares of the company’s stock valued at $53,350,000 after buying an additional 20,229 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Atkore by 23.5% in the 2nd quarter. Principal Financial Group Inc. now owns 336,835 shares of the company’s stock valued at $45,449,000 after buying an additional 64,050 shares in the last quarter.

Atkore Stock Up 0.8 %

Shares of Atkore stock opened at $83.90 on Friday. Atkore Inc. has a 52-week low of $76.01 and a 52-week high of $194.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The business’s 50 day simple moving average is $89.16 and its 200 day simple moving average is $102.83. The firm has a market cap of $2.91 billion, a PE ratio of 6.64 and a beta of 2.10.

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

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. Atkore’s dividend payout ratio is 10.13%.

Analysts Set New Price Targets

Several research analysts have weighed in on ATKR shares. Loop Capital reduced 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. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Mkm initiated coverage on Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Insider Activity

In other news, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction that occurred on 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 approximately $2,405,757.55. This represents a 11.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now directly owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock worth $1,614,975 in the last quarter. Corporate insiders own 1.99% 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.