Zurcher Kantonalbank Zurich Cantonalbank Sells 5,710 Shares of Atkore Inc. (NYSE:ATKR)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Atkore Inc. (NYSE:ATKR) by 24.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,925 shares of the company’s stock after selling 5,710 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atkore were worth $1,496,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ATKR. Jones Financial Companies Lllp raised its position in Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares in the last quarter. Quarry LP increased its position in shares of Atkore by 48.8% during 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. Pacer Advisors Inc. increased its position in shares of Atkore by 30.2% during the 4th 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 last quarter. KBC Group NV raised its holdings in shares of Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after buying an additional 469 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Atkore in the 3rd quarter worth approximately $143,000.

Atkore Trading Down 1.5 %

NYSE:ATKR opened at $65.02 on Wednesday. The company has a fifty day moving average of $72.44 and a 200 day moving average of $82.14. Atkore Inc. has a 52 week low of $55.91 and a 52 week high of $194.98. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.26 billion, a P/E ratio of 6.29 and a beta of 2.22.

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

Atkore Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on ATKR. KeyCorp decreased their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. B. Riley cut shares of 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 research note on Friday, November 22nd. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, Roth Mkm started coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Atkore currently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

Insider Activity at Atkore

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

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.