Holocene Advisors LP Acquires New Holdings in Atkore Inc. (NYSE:ATKR)

Holocene Advisors LP bought a new position in Atkore Inc. (NYSE:ATKR - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 57,564 shares of the company's stock, valued at approximately $4,878,000. Holocene Advisors LP owned about 0.16% of Atkore as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers increased its position in shares of Atkore by 315.6% during the 1st quarter. Cetera Investment Advisers now owns 13,402 shares of the company's stock worth $2,551,000 after purchasing an additional 10,177 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Atkore in the 1st quarter valued at about $473,000. Mather Group LLC. raised its holdings in Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company's stock valued at $63,000 after buying an additional 421 shares during the period. Park Avenue Securities LLC raised its holdings in Atkore by 9.3% in the 2nd quarter. Park Avenue Securities LLC now owns 7,207 shares of the company's stock valued at $972,000 after buying an additional 614 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its stake in Atkore by 10.1% during the second quarter. Linden Thomas Advisory Services LLC now owns 2,755 shares of the company's stock worth $372,000 after purchasing an additional 252 shares during the period.

Atkore Stock Down 3.7 %

ATKR stock traded down $3.47 during midday trading on Thursday, reaching $90.18. 403,225 shares of the company were exchanged, compared to its average volume of 635,126. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98. The stock's 50-day simple moving average is $89.04 and its 200 day simple moving average is $109.57. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 7.41 and a beta of 2.10.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.08 by ($0.06). The company had revenue of $788.30 million for the quarter, compared to analyst estimates of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The firm's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.63 EPS. On average, equities analysts forecast that Atkore Inc. will post 6.69 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.42%. Atkore's dividend payout ratio (DPR) is presently 10.13%.

Insider Transactions at Atkore

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the transaction, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now owns 27,626 shares of the company's stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,924 shares of company stock worth $1,614,975. Insiders own 2.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. B. Riley downgraded Atkore from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada reissued a "sector perform" rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday. Loop Capital lowered their price objective on Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Finally, KeyCorp lowered their price objective on Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $118.80.

Atkore Company 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.