HighTower Advisors LLC Has $1.08 Million Stock Holdings in Atkore Inc. (NYSE:ATKR)

HighTower Advisors LLC cut its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 54.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,739 shares of the company's stock after selling 15,503 shares during the quarter. HighTower Advisors LLC's holdings in Atkore were worth $1,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company's stock valued at $42,000 after acquiring an additional 401 shares during the period. Quarry LP acquired a new position in Atkore in the 2nd quarter valued at approximately $57,000. Covestor Ltd lifted its position in shares of Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company's stock worth $85,000 after acquiring an additional 390 shares during the period. Headlands Technologies LLC grew its holdings in shares of Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company's stock worth $122,000 after purchasing an additional 805 shares in the last quarter. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Atkore during the third quarter valued at approximately $126,000.

Insider Activity at Atkore

In related news, VP Daniel S. Kelly sold 13,071 shares of the firm's stock in a transaction dated 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 transaction, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares of the company's stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock valued at $1,614,975 over the last quarter. Corporate insiders own 2.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Roth Mkm started coverage on shares of Atkore in a report on Tuesday. They issued a "buy" rating and a $100.00 price target on the stock. B. Riley lowered shares of Atkore from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada restated a "sector perform" rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Roth Capital upgraded Atkore to a "strong-buy" rating in a research note on Monday. Finally, KeyCorp cut their target price 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 investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $115.67.

Atkore Price Performance

NYSE ATKR traded down $3.29 during trading hours on Wednesday, reaching $82.02. 533,969 shares of the company's stock were exchanged, compared to its average volume of 631,641. The firm has a fifty day moving average of $89.63 and a 200-day moving average of $105.07. Atkore Inc. has a one year low of $76.01 and a one year high of $194.98. The stock has a market cap of $2.86 billion, a PE ratio of 6.49 and a beta of 2.10. The company has a current ratio of 2.98, a quick ratio of 1.96 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 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The business had revenue of $788.30 million for the quarter, compared to the consensus estimate of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.63 EPS. On average, equities research analysts predict that Atkore Inc. will post 6.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.56%. Atkore's dividend payout ratio (DPR) is currently 10.13%.

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.