Atkore Inc. (NYSE:ATKR) Stake Lowered by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P cut its stake in Atkore Inc. (NYSE:ATKR) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,187 shares of the company’s stock after selling 5,828 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Atkore were worth $6,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its position in Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 186 shares during the last quarter. Quarry LP increased its holdings in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. raised its position in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after acquiring an additional 195 shares in the last quarter. Harbour Investments Inc. lifted its stake in Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, KBC Group NV grew its position in Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares in the last quarter.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was 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 in the company, valued at approximately $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ATKR. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and cut their price target for the company from $115.00 to $65.00 in a report on Monday, February 10th. KeyCorp cut their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Roth Mkm started coverage on Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.17.

Atkore Price Performance

Shares of NYSE:ATKR opened at $60.54 on Friday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 5.86 and a beta of 2.22. The business has a 50 day moving average price of $69.23 and a 200 day moving average price of $80.89. 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 Inc. has a twelve month low of $55.91 and a twelve month high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $680.77 million. During the same quarter last year, the company posted $4.12 earnings per share. Atkore’s quarterly revenue was down 17.1% on a year-over-year basis. Research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s dividend payout ratio is currently 12.39%.

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.