Legal & General Group Plc trimmed its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 8.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 57,396 shares of the company's stock after selling 5,439 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of Atkore worth $4,790,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Round Hill Asset Management bought a new stake in Atkore in the 4th quarter valued at about $657,000. Aristides Capital LLC bought a new position in shares of Atkore in the fourth quarter worth $200,000. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Atkore by 5.2% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 140,287 shares of the company's stock valued at $11,707,000 after purchasing an additional 6,967 shares during the period. Wells Fargo & Company MN lifted its holdings in Atkore by 32.0% in the fourth quarter. Wells Fargo & Company MN now owns 55,479 shares of the company's stock worth $4,630,000 after purchasing an additional 13,445 shares during the period. Finally, Bryce Point Capital LLC bought a new stake in shares of Atkore during the 4th quarter worth about $506,000.
Insider Transactions at Atkore
In related 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. KeyCorp dropped their target price on Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and cut their price objective for the company from $115.00 to $65.00 in a report on Monday, February 10th. Citigroup dropped their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada boosted their target price on shares of Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.00.
Check Out Our Latest Report on Atkore
Atkore Trading Down 1.1 %
NYSE ATKR traded down $0.70 on Wednesday, hitting $61.96. 546,757 shares of the stock were exchanged, compared to its average volume of 699,154. The company's 50-day moving average price is $61.80 and its two-hundred day moving average price is $77.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $185.42. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 6.00 and a beta of 2.02.
Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. The firm had revenue of $661.60 million for 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%. Atkore's quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.12 earnings per share. Research analysts predict that Atkore Inc. will post 5.79 EPS for the current year.
Atkore Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Tuesday, February 18th. Atkore's dividend payout ratio is currently 12.39%.
About Atkore
(
Free Report)
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.
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