Invesco Ltd. Lowers Position in Atkore Inc. (NYSE:ATKR)

Invesco Ltd. trimmed its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 16.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 537,240 shares of the company's stock after selling 106,391 shares during the period. Invesco Ltd. owned 1.55% of Atkore worth $44,833,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Lakewood Asset Management LLC grew its holdings in Atkore by 1.4% during the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company's stock valued at $756,000 after purchasing an additional 126 shares in the last quarter. Isthmus Partners LLC grew its stake in shares of Atkore by 0.8% during the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company's stock valued at $1,789,000 after acquiring an additional 162 shares in the last quarter. Xponance Inc. increased its position in shares of Atkore by 6.9% during the fourth quarter. Xponance Inc. now owns 2,569 shares of the company's stock worth $214,000 after acquiring an additional 166 shares during the last quarter. Willis Investment Counsel increased its position in shares of Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company's stock worth $446,000 after acquiring an additional 171 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 186 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ATKR. Citigroup dropped their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Loop Capital lowered shares of 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. Finally, KeyCorp decreased their price target on Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.17.

Atkore Stock Performance

ATKR traded up $0.73 on Friday, hitting $58.47. 839,447 shares of the stock traded hands, compared to its average volume of 699,161. The firm has a market capitalization of $2.03 billion, a PE ratio of 5.66 and a beta of 2.02. 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 business has a fifty day moving average price of $62.21 and a two-hundred day moving average price of $77.62. 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 announced its earnings results 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. The company had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm's quarterly revenue was down 17.1% compared to the same quarter last year. During the same period last year, the company posted $4.12 earnings per share. On average, research analysts predict that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given 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 2.19%. Atkore's dividend payout ratio is presently 12.39%.

Insider Buying and Selling 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 sale, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.99% of the company's stock.

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.