Atkore Inc. (NYSE:ATKR) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its position in shares of Atkore Inc. (NYSE:ATKR) by 15.2% during the third quarter, Holdings Channel reports. The fund owned 2,397 shares of the company’s stock after acquiring an additional 316 shares during the quarter. Blue Trust Inc.’s holdings in Atkore were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATKR. Arizona State Retirement System boosted its holdings in shares of Atkore by 0.8% during the second quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after purchasing an additional 85 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings 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 purchasing an additional 99 shares during the period. Meixler Investment Management Ltd. increased its position in Atkore by 6.5% during the second 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 last quarter. 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 purchasing an additional 129 shares during the period. Finally, Riverwater Partners LLC boosted its holdings in shares of Atkore by 1.1% in the 2nd quarter. Riverwater Partners LLC now owns 14,310 shares of the company’s stock valued at $1,931,000 after purchasing an additional 159 shares during the last quarter.

Atkore Stock Down 0.5 %

Shares of Atkore stock opened at $85.58 on Friday. The business has a 50-day moving average of $88.09 and a 200-day moving average of $125.18. Atkore Inc. has a 1-year low of $80.11 and a 1-year high of $194.98. The company has a market capitalization of $3.12 billion, a PE ratio of 5.34 and a beta of 2.14. 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 (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The business had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same quarter in the previous year, the firm earned $5.13 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts forecast that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Analyst Upgrades and Downgrades

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

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now owns 28,086 shares of the company’s stock, valued at $2,681,370.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.56% of the company’s stock.

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.