SG Americas Securities LLC Sells 5,331 Shares of Atkore Inc. (NYSE:ATKR)

SG Americas Securities LLC lessened its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 62.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,254 shares of the company's stock after selling 5,331 shares during the quarter. SG Americas Securities LLC's holdings in Atkore were worth $439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ATKR. ICA Group Wealth Management LLC acquired a new position in Atkore during the 4th quarter valued at approximately $25,000. GAMMA Investing LLC bought a new stake in shares of Atkore during the fourth quarter valued at about $26,000. LifeSteps Financial Inc. acquired a new stake in Atkore in the first quarter worth about $33,000. Global Retirement Partners LLC lifted its holdings in Atkore by 405.1% in the first quarter. Global Retirement Partners LLC now owns 197 shares of the company's stock worth $38,000 after purchasing an additional 158 shares during the period. Finally, Montag A & Associates Inc. bought a new position in Atkore in the 4th quarter valued at about $58,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ATKR. KeyCorp dropped their target price on shares of Atkore from $175.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. B. Riley reduced their target price on Atkore from $183.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada cut Atkore from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. StockNews.com lowered shares of Atkore from a "buy" rating to a "hold" rating in a research note on Wednesday, May 8th. Finally, Citigroup dropped their target price on shares of Atkore from $200.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Atkore presently has a consensus rating of "Hold" and an average price target of $137.00.

Insider Activity at Atkore

In other news, Director Wilbert W. James, Jr. sold 599 shares of Atkore stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now directly owns 15,695 shares in the company, valued at $2,404,944.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the sale, the insider now directly owns 28,086 shares of the company's stock, valued at approximately $2,681,370.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Wilbert W. James, Jr. sold 599 shares of the firm's stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the sale, the director now owns 15,695 shares in the company, valued at $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by company insiders.

Atkore Stock Up 2.3 %

ATKR stock traded up $2.23 during mid-day trading on Wednesday, hitting $97.91. The stock had a trading volume of 640,207 shares, compared to its average volume of 618,014. Atkore Inc. has a 1-year low of $91.31 and a 1-year high of $194.98. The company has a fifty day moving average of $126.34 and a 200 day moving average of $151.01. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 6.10 and a beta of 2.15.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The company had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same quarter in the prior year, the business posted $5.13 EPS. Atkore's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that Atkore Inc. will post 14.93 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, August 20th. Atkore's dividend payout ratio is currently 7.98%.

Atkore Company 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.