iA Global Asset Management Inc. Cuts Stock Holdings in Atkore Inc. (NYSE:ATKR)

iA Global Asset Management Inc. cut its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 14.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,260 shares of the company's stock after selling 5,635 shares during the period. iA Global Asset Management Inc. owned approximately 0.09% of Atkore worth $4,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ICA Group Wealth Management LLC purchased a new position in shares of Atkore during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new stake in shares of Atkore during the 4th quarter valued at $26,000. LifeSteps Financial Inc. bought a new stake in shares of Atkore during the 1st quarter worth $33,000. Global Retirement Partners LLC boosted its holdings in shares of Atkore by 405.1% in the 1st 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 last quarter. Finally, Montag A & Associates Inc. bought a new stake in Atkore in the fourth quarter worth about $58,000.

Wall Street Analysts Forecast Growth

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

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, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the transaction, the insider now owns 28,086 shares of the company's stock, valued at approximately $2,681,370.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the 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 sale, the director now directly owns 15,695 shares in the company, valued at approximately $2,404,944.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. The disclosure for this sale can be found here. Corporate insiders own 2.56% of the company's stock.

Atkore Trading Up 0.5 %

ATKR traded up $0.42 during midday trading on Friday, reaching $93.33. 570,722 shares of the company's stock traded hands, compared to its average volume of 618,509. The firm has a fifty day moving average of $120.69 and a two-hundred day moving average of $148.57. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 5.82 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 52 week low of $91.31 and a 52 week high of $194.98.

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

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Tuesday, August 20th. Atkore's dividend payout ratio is currently 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.