Invesco Ltd. Sells 106,391 Shares of Atkore Inc. (NYSE:ATKR)

Invesco Ltd. cut its holdings in Atkore Inc. (NYSE:ATKR) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 537,240 shares of the company’s stock after selling 106,391 shares during the period. Invesco Ltd. owned approximately 1.55% of Atkore worth $44,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATKR. Lakewood Asset Management LLC grew its stake in Atkore by 1.4% during the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after purchasing an additional 126 shares during the period. Isthmus Partners LLC increased its stake in shares of Atkore by 0.8% in the 4th quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock valued at $1,789,000 after acquiring an additional 162 shares in the last quarter. Xponance Inc. lifted its position in shares of Atkore by 6.9% during the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after acquiring an additional 166 shares during the period. Willis Investment Counsel lifted its position in shares of Atkore by 3.3% during the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after acquiring an additional 171 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Atkore by 87.7% during the fourth 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.

Analyst Ratings Changes

Several equities research analysts have weighed in on ATKR shares. Roth Mkm began coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. KeyCorp dropped their price target on Atkore from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Citigroup reduced their price objective on Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.17.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.99% of the company’s stock.

Atkore Stock Performance

Shares of Atkore stock opened at $56.99 on Wednesday. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $185.42. 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 business has a 50 day moving average price of $62.83 and a 200-day moving average price of $78.11. The company has a market cap of $1.98 billion, a PE ratio of 5.52 and a beta of 2.02.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. Atkore’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.12 EPS. Equities analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is presently 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.