Raymond James & Associates Lowers Stock Position in Atkore Inc. (NYSE:ATKR)

Raymond James & Associates reduced its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 19.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,975 shares of the company's stock after selling 36,149 shares during the quarter. Raymond James & Associates owned 0.40% of Atkore worth $19,696,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ATKR. ICA Group Wealth Management LLC bought a new stake in shares of Atkore during the 4th quarter worth $25,000. GAMMA Investing LLC acquired a new stake in shares of Atkore in the fourth quarter worth $26,000. LifeSteps Financial Inc. acquired a new stake in shares of Atkore in the first quarter worth $33,000. Global Retirement Partners LLC boosted its position in shares of 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 buying an additional 158 shares during the period. Finally, Montag A & Associates Inc. purchased a new stake in shares of Atkore during the fourth quarter worth $58,000.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the business's 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 sale, the insider now owns 28,086 shares of the company's stock, valued at $2,681,370.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Mark F. Lamps sold 500 shares of the business's 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 transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wilbert W. James, Jr. sold 599 shares of the business's stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the transaction, the director now owns 15,695 shares in the company, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. B. Riley cut their price objective on Atkore from $183.00 to $135.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada lowered Atkore from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. StockNews.com lowered Atkore from a "buy" rating to a "hold" rating in a research note on Wednesday, May 8th. KeyCorp decreased their price target on Atkore from $175.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Finally, Citigroup decreased their price target on Atkore from $200.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Atkore currently has a consensus rating of "Hold" and a consensus target price of $137.00.

Atkore Price Performance

NYSE:ATKR traded up $5.46 during mid-day trading on Friday, reaching $102.81. The stock had a trading volume of 834,016 shares, compared to its average volume of 618,144. The stock has a 50-day simple moving average of $124.75 and a two-hundred day simple moving average of $150.34. The stock has a market capitalization of $3.75 billion, a PE ratio of 6.41 and a beta of 2.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98. Atkore Inc. has a 12 month low of $91.31 and a 12 month high of $194.98.

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

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 1.25%. Atkore's dividend payout ratio is 7.98%.

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.