ProShare Advisors LLC Lowers Holdings in Atkore Inc. (NYSE:ATKR)

ProShare Advisors LLC decreased its holdings in Atkore Inc. (NYSE:ATKR) by 25.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,992 shares of the company’s stock after selling 1,703 shares during the quarter. ProShare Advisors LLC’s holdings in Atkore were worth $674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in 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 buying an additional 85 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Atkore by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock worth $667,000 after purchasing an additional 99 shares during the period. Opinicus Capital Inc. grew its holdings in shares of Atkore by 3.8% during the 1st quarter. Opinicus Capital Inc. now owns 3,263 shares of the company’s stock worth $621,000 after purchasing an additional 118 shares during the period. Meixler Investment Management Ltd. grew its holdings in shares of Atkore by 6.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock worth $263,000 after purchasing an additional 119 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Atkore by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after purchasing an additional 129 shares during the period.

Atkore Stock Up 0.4 %

NYSE ATKR opened at $85.63 on Monday. The stock has a market cap of $3.12 billion, a PE ratio of 5.34 and a beta of 2.14. Atkore Inc. has a fifty-two week low of $80.11 and a fifty-two week high of $194.98. The business has a 50 day moving average price of $100.35 and a two-hundred day moving average price of $138.39. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The company had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same period in the prior year, the company posted $5.13 EPS. Atkore’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts predict that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore’s payout ratio is 7.98%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ATKR shares. B. Riley decreased their target price on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. KeyCorp decreased their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, Loop Capital decreased their price target on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Atkore currently has a consensus rating of “Moderate Buy” and an average price target of $131.60.

Insider Buying and Selling at Atkore

In other Atkore 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 transaction, the insider now directly owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.56% of the stock is currently owned by corporate 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.