Pacer Advisors Inc. cut its holdings in shares of Atkore Inc. (NYSE:ATKR – Free Report) by 23.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,207 shares of the company’s stock after selling 41,981 shares during the period. Pacer Advisors Inc. owned 0.40% of Atkore worth $8,024,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Kestra Investment Management LLC grew its position in Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after purchasing an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Atkore by 1,263.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after buying an additional 480 shares during the period. Strs Ohio acquired a new stake in shares of Atkore during the first quarter worth about $36,000. Jones Financial Companies Lllp grew its holdings in shares of Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Atkore during the fourth quarter worth about $77,000.
Insider Buying and Selling
In related news, Director Wilbert W. James, Jr. sold 3,299 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $73.61, for a total value of $242,839.39. Following the completion of the transaction, the director directly owned 17,063 shares of the company’s stock, valued at $1,256,007.43. This trade represents a 16.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Justin A. Kershaw sold 2,799 shares of Atkore stock in a transaction on Friday, May 8th. The stock was sold at an average price of $73.67, for a total value of $206,202.33. Following the transaction, the director directly owned 18,610 shares of the company’s stock, valued at approximately $1,370,998.70. This represents a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.10% of the company’s stock.
Atkore Stock Up 0.1%
Atkore (NYSE:ATKR – Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.11%. The company had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same period in the prior year, the business posted $2.17 earnings per share. Equities research analysts anticipate that Atkore Inc. will post 4.75 EPS for the current fiscal year.
Atkore Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. Atkore’s dividend payout ratio is currently -27.44%.
Analyst Ratings Changes
ATKR has been the subject of several analyst reports. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research note on Wednesday, July 29th. Roth Capital lowered Atkore from a “buy” rating to a “neutral” rating and boosted their target price for the company from $85.00 to $92.00 in a report on Tuesday. Citigroup upped their price target on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.33.
Read Our Latest Research Report on ATKR
Atkore Company Profile
Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.
Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.
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