Hedeker Wealth LLC Purchases 2,683 Shares of Atkore Inc. (NYSE:ATKR)

Hedeker Wealth LLC increased its holdings in Atkore Inc. (NYSE:ATKR) by 29.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,691 shares of the company’s stock after buying an additional 2,683 shares during the period. Hedeker Wealth LLC’s holdings in Atkore were worth $1,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Atkore by 29.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 2,058 shares of the company’s stock valued at $329,000 after buying an additional 467 shares in the last quarter. Cerity Partners LLC raised its stake in Atkore by 28.9% during the 4th quarter. Cerity Partners LLC now owns 6,015 shares of the company’s stock worth $962,000 after acquiring an additional 1,347 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Atkore by 13.6% in the fourth quarter. Vontobel Holding Ltd. now owns 23,819 shares of the company’s stock valued at $3,811,000 after buying an additional 2,849 shares during the last quarter. Roman Butler Fullerton & Co. grew its holdings in shares of Atkore by 3.2% during the fourth quarter. Roman Butler Fullerton & Co. now owns 2,755 shares of the company’s stock worth $422,000 after buying an additional 85 shares during the last quarter. Finally, Peterson Wealth Services purchased a new position in Atkore during the 4th quarter worth $216,000.

Atkore Trading Up 1.6 %

Shares of ATKR traded up $1.55 during midday trading on Friday, hitting $95.59. The stock had a trading volume of 981,167 shares, compared to its average volume of 616,621. Atkore Inc. has a fifty-two week low of $91.31 and a fifty-two week high of $194.98. The business has a 50-day simple moving average of $129.03 and a two-hundred day simple moving average of $152.11. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.48 billion, a P/E ratio of 5.96 and a beta of 2.15.

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

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.34%. Atkore’s payout ratio is 7.98%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. In related news, Director Wilbert W. James, Jr. sold 599 shares of the company’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 completion of the sale, the director now owns 15,695 shares in the company, valued at approximately $2,404,944.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now directly owns 28,086 shares of the company’s stock, valued at $2,681,370.42. The disclosure for this sale can be found here. 2.56% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.