Atkore Inc. (NYSE:ATKR) Shares Sold by Virtu Financial LLC

Virtu Financial LLC trimmed its holdings in Atkore Inc. (NYSE:ATKR) by 37.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,110 shares of the company’s stock after selling 1,881 shares during the quarter. Virtu Financial LLC’s holdings in Atkore were worth $592,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new stake in Atkore in the fourth quarter valued at $25,000. GAMMA Investing LLC purchased a new stake in Atkore in the fourth quarter valued at $26,000. LifeSteps Financial Inc. purchased a new stake in Atkore in the first quarter valued at $33,000. Global Retirement Partners LLC boosted its holdings in Atkore by 405.1% in the first quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in Atkore in the fourth quarter valued at $58,000.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ATKR. Citigroup lowered their target price on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. StockNews.com lowered shares of Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, KeyCorp began coverage on shares of Atkore in a research note on Wednesday, July 10th. They set an “overweight” rating and a $175.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Atkore presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Insider Buying and Selling at Atkore

In other news, Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the sale, the director now owns 15,695 shares in the company, valued at approximately $2,404,944.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $157.67, for a total value of $78,835.00. Following the completion of the transaction, the insider now owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is owned by insiders.

Atkore Price Performance

Atkore stock traded down $6.87 during midday trading on Friday, reaching $122.17. The company had a trading volume of 782,549 shares, compared to its average volume of 520,674. The company has a market capitalization of $4.45 billion, a P/E ratio of 7.54 and a beta of 2.15. Atkore Inc. has a 12-month low of $120.31 and a 12-month high of $194.98. The firm’s fifty day simple moving average is $139.64 and its 200-day simple moving average is $156.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.86. The firm had revenue of $792.90 million for the quarter, compared to analyst estimates of $808.22 million. Atkore had a net margin of 18.30% and a return on equity of 43.19%. Atkore’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period last year, the company posted $4.31 EPS. As a group, equities analysts anticipate that Atkore Inc. will post 14.93 EPS for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. Atkore’s payout ratio is 7.98%.

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.