HighTower Advisors LLC Sells 223 Shares of Atkore Inc. (NYSE:ATKR)

HighTower Advisors LLC decreased its position in Atkore Inc. (NYSE:ATKR) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,516 shares of the company’s stock after selling 223 shares during the quarter. HighTower Advisors LLC’s holdings in Atkore were worth $1,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Isthmus Partners LLC increased its position in shares of Atkore by 0.8% during the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock valued at $1,789,000 after acquiring an additional 162 shares during the last quarter. Ruffer LLP bought a new stake in Atkore in the fourth quarter worth about $4,061,000. Aviance Capital Partners LLC purchased a new position in Atkore in the fourth quarter valued at about $632,000. Inceptionr LLC grew its position in shares of Atkore by 72.5% during the 4th quarter. Inceptionr LLC now owns 6,462 shares of the company’s stock valued at $539,000 after acquiring an additional 2,715 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Atkore in the 4th quarter worth approximately $8,524,000.

Atkore Stock Down 1.8 %

ATKR opened at $63.06 on Thursday. Atkore Inc. has a one year low of $55.91 and a one year high of $194.98. The company has a fifty day moving average price of $70.14 and a 200-day moving average price of $81.19. 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 market capitalization of $2.19 billion, a P/E ratio of 6.10 and a beta of 2.22.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share 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 company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same period in the prior year, the business earned $4.12 earnings per share. Atkore’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 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s dividend payout ratio is currently 12.39%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred 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 in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Mkm assumed coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. KeyCorp cut their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and lowered their target price for the company from $115.00 to $65.00 in a report on Monday, February 10th. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

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.