US Bancorp DE Sells 3,205 Shares of Atkore Inc. (NYSE:ATKR)

US Bancorp DE lessened its position in shares of Atkore Inc. (NYSE:ATKR) by 76.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 964 shares of the company’s stock after selling 3,205 shares during the quarter. US Bancorp DE’s holdings in Atkore were worth $80,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Lakewood Asset Management LLC raised its position in shares of Atkore by 1.4% during the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock valued at $756,000 after buying an additional 126 shares in the last quarter. Willis Investment Counsel increased its stake in Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock worth $446,000 after acquiring an additional 171 shares during the last quarter. Pacer Advisors Inc. raised its position in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after purchasing an additional 195 shares during the period. Quarry LP lifted its stake 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 purchasing an additional 208 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Atkore by 6.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,523 shares of the company’s stock worth $383,000 after purchasing an additional 256 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. KeyCorp decreased their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 target price (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and cut their price target for the company from $115.00 to $65.00 in a report on Monday, February 10th. Finally, Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the business’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 completion of the sale, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.99% of the stock is currently owned by company insiders.

Atkore Trading Up 2.3 %

NYSE ATKR opened at $65.98 on Tuesday. The stock has a market cap of $2.29 billion, a PE ratio of 6.39 and a beta of 2.22. Atkore Inc. has a 12 month low of $55.91 and a 12 month high of $194.98. The company’s 50-day moving average price is $72.88 and its 200-day moving average price is $82.34. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51.

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

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.94%. Atkore’s payout ratio is currently 12.39%.

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.