River Road Asset Management LLC Sells 1,538 Shares of Atkore Inc. (NYSE:ATKR)

River Road Asset Management LLC lessened its stake in Atkore Inc. (NYSE:ATKR) by 0.1% in the fourth quarter, HoldingsChannel reports. The fund owned 1,093,418 shares of the company’s stock after selling 1,538 shares during the period. Atkore makes up about 1.2% of River Road Asset Management LLC’s portfolio, making the stock its 26th biggest position. River Road Asset Management LLC’s holdings in Atkore were worth $91,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of ATKR. E. Ohman J or Asset Management AB lifted its position in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after purchasing an additional 113,263 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Atkore in the third quarter worth approximately $7,916,000. Chase Investment Counsel Corp increased its stake in shares of Atkore by 97.0% in the third quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock worth $1,101,000 after buying an additional 6,400 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in Atkore by 729.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock valued at $2,358,000 after buying an additional 24,476 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Atkore by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,927 shares of the company’s stock valued at $2,136,000 after buying an additional 7,123 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and dropped their target price for the stock from $115.00 to $65.00 in a report on Monday, February 10th. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, Roth Mkm started coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.17.

Atkore Trading Up 1.3 %

ATKR opened at $65.72 on Tuesday. The stock has a market cap of $2.28 billion, a PE ratio of 6.36 and a beta of 2.22. The business has a 50 day moving average of $74.85 and a 200-day moving average of $83.50. Atkore Inc. has a 52 week low of $55.91 and a 52 week high of $194.98. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same quarter in the prior year, the company earned $4.12 earnings per share. The business’s revenue was down 17.1% compared to the same quarter last year. Equities research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.99% of the stock is owned by company insiders.

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.