Geode Capital Management LLC Lowers Stock Holdings in Atkore Inc. (NYSE:ATKR)

Geode Capital Management LLC cut its holdings in Atkore Inc. (NYSE:ATKR) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 860,873 shares of the company’s stock after selling 9,431 shares during the quarter. Geode Capital Management LLC owned 2.48% of Atkore worth $71,855,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings 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 acquiring an additional 186 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after purchasing an additional 195 shares during the period. Harbour Investments Inc. increased its stake in shares of Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. KBC Group NV raised its position in shares of Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after purchasing an additional 469 shares during the last quarter. Finally, Matrix Trust Co raised its position in shares of Atkore by 657.7% during the 4th quarter. Matrix Trust Co now owns 2,129 shares of the company’s stock worth $178,000 after purchasing an additional 1,848 shares during the last quarter.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ATKR. KeyCorp cut their price objective on Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and reduced their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, Roth Mkm started coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and a consensus price target of $101.50.

Atkore Stock Performance

Shares of Atkore stock opened at $58.02 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The business’s 50 day moving average price is $63.15 and its 200 day moving average price is $78.50. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 5.62 and a beta of 2.02. Atkore Inc. has a one year low of $49.92 and a one year high of $185.42.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the previous year, the firm earned $4.12 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. On average, research analysts predict that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.21%. Atkore’s dividend payout ratio (DPR) is 12.39%.

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.