Public Employees Retirement System of Ohio Sells 563 Shares of Atkore Inc. (NYSE:ATKR)

Public Employees Retirement System of Ohio lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 25.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,614 shares of the company’s stock after selling 563 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Atkore were worth $137,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Signaturefd LLC lifted its holdings in shares of Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after acquiring an additional 401 shares during the period. Quarry LP lifted its holdings in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares during the last quarter. Covestor Ltd boosted its position in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after buying an additional 390 shares in the last quarter. Headlands Technologies LLC grew its stake in Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after buying an additional 805 shares during the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Atkore during the third quarter worth approximately $126,000.

Insider Buying and Selling at Atkore

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the transaction, the director now directly owns 25,585 shares in the company, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,924 shares of company stock valued at $1,614,975. 2.56% of the stock is currently owned by company insiders.

Atkore Stock Performance

Atkore stock opened at $83.40 on Friday. The company has a market cap of $2.90 billion, a PE ratio of 6.60 and a beta of 2.10. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50. Atkore Inc. has a 1 year low of $76.01 and a 1 year high of $194.98. The company’s 50-day moving average is $89.41 and its two-hundred day moving average is $104.07.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). The business had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. Atkore’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.63 earnings per share. Equities analysts anticipate that Atkore Inc. will post 6.69 earnings per share for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, December 6th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.53%. Atkore’s dividend payout ratio is presently 10.13%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ATKR. KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Loop Capital decreased their target price on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.67.

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.