IFP Advisors Inc Has $33,000 Stake in Atkore Inc. (NYSE:ATKR)

IFP Advisors Inc trimmed its stake in Atkore Inc. (NYSE:ATKR) by 34.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 396 shares of the company’s stock after selling 209 shares during the period. IFP Advisors Inc’s holdings in Atkore were worth $33,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after acquiring an additional 134,517 shares during the period. Royce & Associates LP grew its holdings in Atkore by 20.2% during the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after acquiring an additional 66,533 shares during the period. E. Ohman J or Asset Management AB grew its holdings in Atkore by 55.2% during the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after acquiring an additional 113,263 shares during the period. Swedbank AB grew its holdings in Atkore by 18.4% during the 4th quarter. Swedbank AB now owns 296,791 shares of the company’s stock worth $24,767,000 after acquiring an additional 46,200 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in Atkore by 44.9% during the 4th quarter. Boston Trust Walden Corp now owns 272,939 shares of the company’s stock worth $22,777,000 after acquiring an additional 84,584 shares during the period.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the transaction, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.99% of the stock is owned by insiders.

Atkore Price Performance

ATKR stock opened at $64.96 on Friday. The stock has a market capitalization of $2.26 billion, a PE ratio of 6.29 and a beta of 2.22. The company’s 50-day moving average is $75.19 and its 200-day moving average is $83.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore Inc. has a 1 year low of $55.91 and a 1 year high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same quarter last year, the firm earned $4.12 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. Equities research analysts expect that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.97%. Atkore’s payout ratio is 12.39%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and decreased their price target for the stock from $115.00 to $65.00 in a report on Monday, February 10th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Mkm began coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

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.