Atkore Inc. (NYSE:ATKR) Stock Holdings Lessened by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC cut its stake in shares of Atkore Inc. (NYSE:ATKR) by 84.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,428 shares of the company’s stock after selling 13,021 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Atkore were worth $206,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP purchased a new position in shares of Atkore in the second quarter worth approximately $57,000. Signaturefd LLC grew its position in Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares in the last quarter. Headlands Technologies LLC raised its stake in Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after purchasing an additional 805 shares during the period. Covestor Ltd lifted its holdings in shares of Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after purchasing an additional 390 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Atkore in the third quarter worth $126,000.

Insiders Place Their Bets

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the transaction, the director now owns 25,585 shares of the company’s stock, valued at $2,405,757.55. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the sale, the vice president now owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock valued at $1,614,975 over the last quarter. Insiders own 2.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Loop Capital dropped their price target on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Finally, KeyCorp cut their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

Atkore Trading Up 0.8 %

Shares of NYSE ATKR opened at $83.40 on Friday. The business has a 50 day simple moving average of $89.41 and a 200 day simple moving average of $104.33. Atkore Inc. has a 52 week low of $76.01 and a 52 week high of $194.98. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 6.60 and a beta of 2.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The business had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The business’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.63 earnings per share. On average, research analysts predict that Atkore Inc. will post 6.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 annualized dividend and a yield of 1.53%. Atkore’s dividend payout ratio (DPR) is currently 10.13%.

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.