Homestead Advisers Corp Sells 19,500 Shares of Atkore Inc. (NYSE:ATKR)

Homestead Advisers Corp lessened its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,000 shares of the company's stock after selling 19,500 shares during the period. Homestead Advisers Corp owned approximately 0.10% of Atkore worth $2,837,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in shares of Atkore by 3,948.4% during the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock valued at $39,291,000 after acquiring an additional 459,200 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock worth $111,467,000 after buying an additional 134,517 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock worth $26,569,000 after buying an additional 113,263 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Atkore by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company's stock worth $20,580,000 after buying an additional 110,107 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Atkore during the fourth quarter valued at approximately $8,524,000.

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Insider Activity

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.99% of the company's stock.

Atkore Stock Performance

Atkore stock traded down $1.00 during trading on Monday, reaching $59.59. The company had a trading volume of 107,249 shares, compared to its average volume of 719,562. The firm's 50-day simple moving average is $69.23 and its 200 day simple moving average is $80.88. Atkore Inc. has a 52 week low of $55.91 and a 52 week high of $194.98. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 5.77 and a beta of 2.22.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $661.60 million for the quarter, compared to analysts' expectations of $680.77 million. During the same period in the previous year, the firm earned $4.12 EPS. The business's quarterly revenue was down 17.1% on a year-over-year basis. 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. Shareholders of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 2.15%. Atkore's payout ratio is presently 12.39%.

Analyst Upgrades and Downgrades

Several analysts have commented on ATKR shares. Loop Capital downgraded Atkore from a "buy" rating to a "hold" rating and cut their target price for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Mkm initiated coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a "buy" rating and a $100.00 target price on the stock. Roth Capital raised shares of Atkore to a "strong-buy" rating in a report on Monday, December 16th. Finally, KeyCorp cut their target price on shares of Atkore from $105.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.17.

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.