Generate Investment Management Ltd Decreases Position in Atkore Inc. (NYSE:ATKR)

Generate Investment Management Ltd lessened its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 19.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 150,268 shares of the company's stock after selling 37,351 shares during the period. Atkore accounts for about 1.2% of Generate Investment Management Ltd's investment portfolio, making the stock its 21st biggest holding. Generate Investment Management Ltd owned approximately 0.41% of Atkore worth $20,276,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATKR. Boston Partners grew its holdings in shares of Atkore by 12.0% in the first quarter. Boston Partners now owns 1,340,146 shares of the company's stock valued at $254,733,000 after purchasing an additional 143,121 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Atkore by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,067,162 shares of the company's stock worth $170,753,000 after buying an additional 3,568 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Atkore by 28.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company's stock worth $131,303,000 after acquiring an additional 216,997 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Atkore by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 557,985 shares of the company's stock worth $89,278,000 after acquiring an additional 17,012 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in Atkore by 48.4% during the first quarter. Clearbridge Investments LLC now owns 514,908 shares of the company's stock valued at $98,018,000 after purchasing an additional 168,042 shares during the period.

Atkore Trading Down 5.3 %

Atkore stock traded down $4.92 during trading hours on Tuesday, hitting $88.41. The company had a trading volume of 896,368 shares, compared to its average volume of 620,153. The firm has a market cap of $3.22 billion, a P/E ratio of 5.51 and a beta of 2.15. The company has a 50-day moving average price of $119.03 and a two-hundred day moving average price of $147.81. Atkore Inc. has a 1 year low of $87.90 and a 1 year high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The business had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same period in the previous year, the company posted $5.13 EPS. Atkore's revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore's payout ratio is 7.98%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.56% 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.