Geode Capital Management LLC Lowers Holdings in Atkore Inc. (NYSE:ATKR)

Geode Capital Management LLC trimmed its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 860,873 shares of the company's stock after selling 9,431 shares during the period. Geode Capital Management LLC owned about 2.48% of Atkore worth $71,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in shares of Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 186 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after purchasing an additional 195 shares during the last quarter. Harbour Investments Inc. boosted its position in Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after buying an additional 1,000 shares during the period. KBC Group NV grew its stake in shares of 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 buying an additional 469 shares during the last quarter. Finally, Matrix Trust Co increased its holdings in shares of Atkore by 657.7% in the fourth quarter. Matrix Trust Co now owns 2,129 shares of the company's stock worth $178,000 after buying an additional 1,848 shares during the period.

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Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now owns 33,760 shares of the company's stock, valued at approximately $2,194,400. This trade 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 is accessible through this link. 1.99% of the stock is currently owned by corporate insiders.

Atkore Trading Down 1.7 %

ATKR stock traded down $1.01 during trading on Tuesday, reaching $56.99. The company had a trading volume of 380,578 shares, compared to its average volume of 696,588. The business has a 50 day moving average of $63.00 and a 200 day moving average of $78.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The company has a market cap of $1.98 billion, a P/E ratio of 5.52 and a beta of 2.02. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $185.42.

Atkore (NYSE:ATKR - Get Free Report) last released its 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 company had revenue of $661.60 million during the quarter, compared to analysts' expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm's revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.12 EPS. As a group, sell-side analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.25%. Atkore's payout ratio is 12.39%.

Analysts Set New Price Targets

ATKR has been the topic of several recent research reports. KeyCorp reduced their price target on Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and decreased their target price for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Roth Capital raised shares of Atkore to a "strong-buy" rating in a research report on Monday, December 16th. Roth Mkm started coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a "buy" rating and a $100.00 price objective on the stock. Finally, Citigroup dropped their target price on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a report on Monday. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.17.

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.