JPMorgan Chase & Co. Has $29.40 Million Holdings in Atkore Inc. (NYSE:ATKR)

JPMorgan Chase & Co. decreased its stake in Atkore Inc. (NYSE:ATKR) by 44.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 346,957 shares of the company’s stock after selling 273,946 shares during the quarter. JPMorgan Chase & Co.’s holdings in Atkore were worth $29,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares in the last quarter. Quarry LP increased its position in shares of Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares in the last quarter. Covestor Ltd increased its position in shares of Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after buying an additional 390 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Atkore by 829.9% during 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, Pinnacle Associates Ltd. acquired a new position in Atkore in the third quarter valued at about $126,000.

Atkore Stock Performance

Atkore stock opened at $86.95 on Wednesday. The business has a 50 day moving average of $88.58 and a 200-day moving average of $99.47. The company has a market capitalization of $3.02 billion, a P/E ratio of 6.88 and a beta of 2.13. Atkore Inc. has a 1 year low of $76.01 and a 1 year high of $194.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96.

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

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were paid a $0.32 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. Atkore’s dividend payout ratio is currently 10.13%.

Insider Activity at Atkore

In related 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 transaction of $315,282.59. Following the completion of the sale, the director now directly owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock worth $1,614,975 in the last quarter. Company insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ATKR shares. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Loop Capital cut their price target on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. 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. Roth Mkm started coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.67.

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.