Skandinaviska Enskilda Banken AB publ Has $26.92 Million Stock Holdings in Atkore Inc. (NYSE:ATKR)

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Atkore Inc. (NYSE:ATKR) by 38.2% in the 2nd quarter, Holdings Channel reports. The firm owned 199,500 shares of the company’s stock after selling 123,500 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Atkore were worth $26,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATKR. Arizona State Retirement System increased its stake in shares of Atkore by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock valued at $1,389,000 after purchasing an additional 85 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Atkore by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock valued at $667,000 after buying an additional 99 shares in the last quarter. Opinicus Capital Inc. grew its position in Atkore by 3.8% in the first quarter. Opinicus Capital Inc. now owns 3,263 shares of the company’s stock valued at $621,000 after acquiring an additional 118 shares during the last quarter. Meixler Investment Management Ltd. grew its position in Atkore by 6.5% in the second quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock valued at $263,000 after acquiring an additional 119 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Atkore by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after acquiring an additional 129 shares in the last quarter.

Atkore Trading Down 2.4 %

ATKR opened at $87.02 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. Atkore Inc. has a fifty-two week low of $80.11 and a fifty-two week high of $194.98. The company’s 50 day moving average price is $106.42 and its two-hundred day moving average price is $141.45. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 5.43 and a beta of 2.15.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.28. The company had revenue of $822.40 million for the quarter, compared to analysts’ expectations of $830.16 million. Atkore had a net margin of 16.47% and a return on equity of 36.96%. Atkore’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.13 earnings per share. As a group, research analysts predict that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. Atkore’s payout ratio is 7.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ATKR shares. Royal Bank of Canada downgraded shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. KeyCorp decreased their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Loop Capital dropped their price target on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday. Finally, B. Riley cut their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Atkore currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.60.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.56% of the stock is owned by corporate insiders.

Atkore Company 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.