Atkore Inc. (NYSE:ATKR) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 99.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 714 shares of the company's stock after selling 136,780 shares during the quarter. Federated Hermes Inc.'s holdings in Atkore were worth $60,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ATKR. Jones Financial Companies Lllp lifted its stake in Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock valued at $33,000 after acquiring an additional 186 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after buying an additional 195 shares in the last quarter. Harbour Investments Inc. boosted its position 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 acquiring an additional 1,000 shares during the last quarter. KBC Group NV grew its stake in Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after acquiring an additional 469 shares in the last quarter. Finally, Matrix Trust Co increased its holdings in Atkore by 657.7% in the 4th quarter. Matrix Trust Co now owns 2,129 shares of the company's stock valued at $178,000 after acquiring an additional 1,848 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and dropped their price objective for the company from $115.00 to $65.00 in a report on Monday, February 10th. KeyCorp decreased their target price on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup decreased their target price on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada upped their target price on shares of Atkore from $64.00 to $65.00 and gave the company a "sector perform" rating in a research report on Tuesday. 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the 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 sale, the insider now owns 33,760 shares of the company's stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.99% of the stock is owned by insiders.

Atkore Price Performance

ATKR stock traded up $1.88 during mid-day trading on Thursday, reaching $63.88. 44,396 shares of the company's stock were exchanged, compared to its average volume of 696,594. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 6.19 and a beta of 2.02. The stock's 50 day moving average is $61.59 and its 200 day moving average is $77.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $185.42.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business's quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.12 earnings per share. On average, research analysts expect that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.00%. 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.