Atkore Inc. (NYSE:ATKR) Shares Sold by LSV Asset Management

LSV Asset Management decreased its holdings in shares of Atkore Inc. (NYSE:ATKR) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 890,700 shares of the company’s stock after selling 45,868 shares during the period. LSV Asset Management owned approximately 2.42% of Atkore worth $142,512,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in Atkore during the 4th quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in shares of Atkore during the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC purchased a new position in Atkore in the fourth quarter valued at $32,000. NBC Securities Inc. purchased a new stake in shares of Atkore during the 3rd quarter worth about $54,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Atkore during the 4th quarter valued at about $72,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on ATKR shares. Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 price target on shares of Atkore in a research report on Friday, March 22nd. Citigroup increased their target price on Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th.

Atkore Price Performance

ATKR stock traded up $0.99 during midday trading on Friday, reaching $176.25. The stock had a trading volume of 533,025 shares, compared to its average volume of 470,827. Atkore Inc. has a 52-week low of $116.14 and a 52-week high of $194.98. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 10.57 and a beta of 2.19. The company’s fifty day simple moving average is $176.60 and its 200 day simple moving average is $154.60. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.08 by $1.04. The firm had revenue of $798.50 million during the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $4.51 earnings per share. As a group, sell-side analysts predict that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.73%. The ex-dividend date is Monday, May 20th. Atkore’s payout ratio is currently 7.67%.

Insiders Place Their Bets

In related news, insider John W. Pregenzer sold 6,548 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $158.49, for a total value of $1,037,792.52. Following the transaction, the insider now directly owns 30,430 shares in the company, valued at $4,822,850.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John W. Pregenzer sold 6,548 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $158.49, for a total value of $1,037,792.52. Following the sale, the insider now directly owns 30,430 shares of the company’s stock, valued at approximately $4,822,850.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the completion of the transaction, the vice president now owns 25,590 shares in the company, valued at $4,505,631.30. The disclosure for this sale can be found here. Insiders have sold 148,464 shares of company stock valued at $25,124,751 over the last ninety days. Company insiders own 2.56% of the company’s stock.

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.