Benjamin Edwards Inc. Buys 274 Shares of Atkore Inc. (NYSE:ATKR)

Benjamin Edwards Inc. lifted its stake in Atkore Inc. (NYSE:ATKR) by 20.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,594 shares of the company’s stock after acquiring an additional 274 shares during the period. Benjamin Edwards Inc.’s holdings in Atkore were worth $215,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of Atkore by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after acquiring an additional 85 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Atkore by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock worth $667,000 after buying an additional 99 shares during the last quarter. Opinicus Capital Inc. grew its stake in Atkore by 3.8% during the 1st quarter. Opinicus Capital Inc. now owns 3,263 shares of the company’s stock worth $621,000 after buying an additional 118 shares during the last quarter. Meixler Investment Management Ltd. grew its stake in Atkore by 6.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock worth $263,000 after buying an additional 119 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Atkore by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after buying an additional 129 shares during the last quarter.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several research analyst reports. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. Loop Capital dropped their target price on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp dropped their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Finally, B. Riley dropped their price target on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.60.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction dated 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 owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.56% of the company’s stock.

Atkore Stock Down 2.4 %

Atkore stock opened at $87.02 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The business’s 50-day simple moving average is $106.42 and its two-hundred day simple moving average is $141.31. The company has a market cap of $3.17 billion, a PE ratio of 5.43 and a beta of 2.15. Atkore Inc. has a fifty-two week low of $80.11 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm had revenue of $822.40 million for the quarter, compared to the consensus estimate of $830.16 million. During the same quarter in the prior year, the business earned $5.13 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. Equities analysts anticipate that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. 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.