Fmr LLC Sells 878,255 Shares of Atkore Inc. (NYSE:ATKR)

FMR LLC trimmed its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 64.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,178 shares of the company's stock after selling 878,255 shares during the period. FMR LLC owned about 1.35% of Atkore worth $41,114,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its stake in shares of Atkore by 881.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 42,741 shares of the company's stock valued at $3,622,000 after acquiring an additional 38,386 shares during the last quarter. Algert Global LLC raised its stake in shares of Atkore by 331.6% during the third quarter. Algert Global LLC now owns 125,894 shares of the company's stock valued at $10,668,000 after acquiring an additional 96,724 shares during the last quarter. Citigroup Inc. raised its stake in shares of Atkore by 56.8% during the third quarter. Citigroup Inc. now owns 47,241 shares of the company's stock valued at $4,003,000 after acquiring an additional 17,106 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in shares of Atkore during the third quarter valued at about $1,292,000. Finally, Intech Investment Management LLC bought a new position in shares of Atkore during the third quarter valued at about $1,274,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ATKR. Loop Capital decreased their price target on shares of Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. B. Riley downgraded shares of Atkore from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, KeyCorp decreased their price target on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $118.80.

Insider Activity

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now directly owns 25,585 shares in the company, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock worth $1,614,975 over the last 90 days. 2.56% of the stock is currently owned by insiders.

Atkore Stock Up 2.0 %

Shares of NYSE ATKR traded up $1.77 on Monday, reaching $90.77. 554,286 shares of the company's stock traded hands, compared to its average volume of 633,391. Atkore Inc. has a 12 month low of $76.01 and a 12 month high of $194.98. The business's 50 day simple moving average is $89.20 and its two-hundred day simple moving average is $108.31. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 7.05 and a beta of 2.10. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results 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). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business had revenue of $788.30 million for the quarter, compared to the consensus estimate of $749.49 million. During the same period in the prior year, the business posted $3.63 EPS. Atkore's revenue for the quarter was down 9.4% on a year-over-year basis. As a group, equities research analysts forecast that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, December 6th. Atkore's payout ratio is 10.13%.

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.