Atkore Inc. (NYSE:ATKR) Shares Acquired by Citigroup Inc.

Citigroup Inc. raised its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 56.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,241 shares of the company's stock after acquiring an additional 17,106 shares during the quarter. Citigroup Inc. owned approximately 0.13% of Atkore worth $4,003,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Integrated Investment Consultants LLC acquired a new stake in Atkore during the 3rd quarter valued at $1,292,000. Intech Investment Management LLC acquired a new stake in Atkore during the 3rd quarter valued at $1,274,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Atkore by 396.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,180 shares of the company's stock valued at $8,659,000 after purchasing an additional 81,605 shares during the last quarter. Factorial Partners LLC lifted its holdings in shares of Atkore by 15.5% during the third quarter. Factorial Partners LLC now owns 17,900 shares of the company's stock worth $1,517,000 after buying an additional 2,400 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Atkore during the third quarter worth $143,000.

Insider Transactions at Atkore

In other news, VP Daniel S. Kelly sold 13,071 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares of the company's stock, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now directly owns 27,626 shares of the company's stock, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,924 shares of company stock worth $1,614,975. 2.56% of the stock is currently owned by company insiders.

Atkore Stock Performance

Shares of NYSE:ATKR traded down $0.23 during midday trading on Wednesday, reaching $93.65. 408,164 shares of the company's stock traded hands, compared to its average volume of 636,026. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 7.41 and a beta of 2.10. 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 one year low of $76.01 and a one year high of $194.98. The stock has a 50 day moving average of $89.04 and a 200 day moving average of $109.57.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.08 by ($0.06). Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company had revenue of $788.30 million during the quarter, compared to analysts' expectations of $749.49 million. During the same quarter in the previous year, the company earned $3.63 EPS. The business's quarterly revenue was down 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, December 6th. Atkore's payout ratio is 10.13%.

Analysts Set New Price Targets

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

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.