AlphaQuest LLC Sells 7,426 Shares of Atkore Inc. (NYSE:ATKR)

AlphaQuest LLC trimmed its position in Atkore Inc. (NYSE:ATKR) by 90.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 809 shares of the company’s stock after selling 7,426 shares during the period. AlphaQuest LLC’s holdings in Atkore were worth $68,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ATKR. Victory Capital Management Inc. boosted its stake in Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after acquiring an additional 459,200 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after acquiring an additional 134,517 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after acquiring an additional 113,263 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Atkore by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company’s stock valued at $20,580,000 after acquiring an additional 110,107 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Atkore in the fourth quarter valued at approximately $8,524,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ATKR. Royal Bank of Canada reaffirmed 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. Loop Capital cut shares of 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 cut shares of 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. Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $103.17.

Atkore Trading Up 2.8 %

Shares of Atkore stock opened at $66.83 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The firm has a fifty day moving average price of $72.12 and a 200 day moving average price of $82.03. Atkore Inc. has a 1 year low of $55.91 and a 1 year high of $194.98. The stock has a market cap of $2.32 billion, a PE ratio of 6.47 and a beta of 2.22.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $680.77 million. During the same quarter last year, the company posted $4.12 earnings per share. The firm’s revenue was down 17.1% compared to the same quarter last year. Equities research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

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 $0.32 dividend. 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 1.92%. Atkore’s payout ratio is 12.39%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on 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 transaction, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.99% of the stock is owned by corporate insiders.

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.