Wedge Capital Management L L P NC Lowers Holdings in Atkore Inc. (NYSE:ATKR)

Wedge Capital Management L L P NC reduced its position in shares of Atkore Inc. (NYSE:ATKR) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,276 shares of the company’s stock after selling 3,827 shares during the period. Wedge Capital Management L L P NC’s holdings in Atkore were worth $14,070,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Boston Partners grew its position in Atkore by 12.0% during the first quarter. Boston Partners now owns 1,340,146 shares of the company’s stock worth $254,733,000 after buying an additional 143,121 shares in the last quarter. River Road Asset Management LLC grew its holdings in shares of Atkore by 14.1% during the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after purchasing an additional 155,508 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Atkore by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,067,162 shares of the company’s stock worth $170,753,000 after purchasing an additional 3,568 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Atkore by 20.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 756,119 shares of the company’s stock valued at $143,935,000 after purchasing an additional 126,699 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Atkore by 3.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 564,384 shares of the company’s stock valued at $90,301,000 after purchasing an additional 19,876 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ATKR shares. Citigroup decreased their price target on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. B. Riley lowered their price objective on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. StockNews.com cut shares of Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, KeyCorp lowered their price objective on shares of Atkore from $175.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Atkore presently has a consensus rating of “Hold” and an average price target of $137.00.

Atkore Trading Up 1.8 %

Shares of ATKR stock traded up $1.70 on Thursday, hitting $94.20. 1,531,021 shares of the company’s stock traded hands, compared to its average volume of 614,299. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09. Atkore Inc. has a one year low of $91.31 and a one year high of $194.98. The company’s fifty day simple moving average is $130.90 and its 200 day simple moving average is $152.98. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 5.77 and a beta of 2.15.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The company had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same quarter last year, the firm earned $5.13 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast that Atkore Inc. will post 14.93 EPS for the current year.

Atkore Dividend Announcement

The company also recently declared 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. This represents a $1.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total value of $91,784.77. Following the sale, the director now owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the sale, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The disclosure for this sale can be found here. 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.