Atkore Inc. (NYSE:ATKR) Stake Reduced by Axa S.A.

Axa S.A. trimmed its holdings in Atkore Inc. (NYSE:ATKR) by 92.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,500 shares of the company’s stock after selling 42,464 shares during the quarter. Axa S.A.’s holdings in Atkore were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ATKR. ICA Group Wealth Management LLC acquired a new stake in Atkore during the fourth quarter valued at approximately $25,000. LifeSteps Financial Inc. bought a new position in shares of Atkore in the first quarter valued at $33,000. Mather Group LLC. lifted its position in shares of Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after acquiring an additional 421 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares in the last quarter. Finally, Kapitalo Investimentos Ltda grew its holdings in shares of Atkore by 2,658.8% in the 4th quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company’s stock worth $150,000 after acquiring an additional 904 shares during the last quarter.

Analyst Ratings Changes

ATKR has been the subject of a number of recent analyst reports. KeyCorp decreased their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. B. Riley decreased their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Loop Capital dropped their target price on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Royal Bank of Canada downgraded shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.60.

Atkore Price Performance

Shares of ATKR opened at $84.09 on Wednesday. The business’s 50-day moving average is $99.15 and its 200-day moving average is $137.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 5.25 and a beta of 2.14. Atkore Inc. has a fifty-two week low of $80.11 and a fifty-two week high of $194.98.

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

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.52%. Atkore’s payout ratio is 7.98%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,681,370.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Atkore 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.