American Century Companies Inc. Sells 193,070 Shares of Atkore Inc. (NYSE:ATKR)

American Century Companies Inc. decreased its position in Atkore Inc. (NYSE:ATKR) by 19.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 783,813 shares of the company’s stock after selling 193,070 shares during the period. American Century Companies Inc. owned approximately 2.26% of Atkore worth $65,409,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP grew its stake in Atkore by 138.8% in the fourth quarter. Quantbot Technologies LP now owns 86,283 shares of the company’s stock valued at $7,200,000 after acquiring an additional 50,152 shares during the period. Semanteon Capital Management LP acquired a new position in shares of Atkore in the 4th quarter valued at approximately $463,000. Teacher Retirement System of Texas increased its stake in Atkore by 1,049.1% during the 4th quarter. Teacher Retirement System of Texas now owns 42,183 shares of the company’s stock worth $3,520,000 after purchasing an additional 38,512 shares in the last quarter. Xponance Inc. raised its holdings in Atkore by 6.9% during the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock worth $214,000 after buying an additional 166 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Atkore by 22.3% during the 4th quarter. Intech Investment Management LLC now owns 18,391 shares of the company’s stock worth $1,535,000 after buying an additional 3,358 shares during the period.

Wall Street Analyst Weigh In

ATKR has been the subject of several research reports. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Roth Mkm initiated coverage on Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. KeyCorp reduced their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 target price (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and an average price target of $103.17.

Atkore Stock Up 2.1 %

NYSE:ATKR opened at $64.19 on Wednesday. Atkore Inc. has a twelve month low of $55.91 and a twelve month high of $194.98. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 6.21 and a beta of 2.22. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $70.55 and its two-hundred day moving average price is $81.32.

Atkore (NYSE:ATKR) last posted its quarterly earnings results 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 firm had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same period in the prior year, the firm posted $4.12 earnings per share. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. Equities research analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. Atkore’s payout ratio is 12.39%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.99% of the stock is owned by insiders.

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.