Natixis Advisors LLC Cuts Stock Position in Atkore Inc. (NYSE:ATKR)

Natixis Advisors LLC cut its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 48.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,079 shares of the company's stock after selling 56,749 shares during the period. Natixis Advisors LLC owned approximately 0.17% of Atkore worth $8,242,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Boston Partners grew its position in Atkore by 12.0% in the 1st quarter. Boston Partners now owns 1,340,146 shares of the company's stock worth $254,733,000 after purchasing an additional 143,121 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Atkore by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,067,162 shares of the company's stock valued at $170,753,000 after purchasing an additional 3,568 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atkore by 28.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company's stock valued at $131,303,000 after buying an additional 216,997 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 buying an additional 17,012 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Atkore by 48.4% in the 1st quarter. Clearbridge Investments LLC now owns 514,908 shares of the company's stock valued at $98,018,000 after acquiring an additional 168,042 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ATKR. KeyCorp cut their target price on shares of Atkore from $175.00 to $125.00 and set an "overweight" rating for the company in a research note 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 company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Finally, B. Riley reduced their price objective on shares of Atkore from $183.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Atkore currently has an average rating of "Hold" and a consensus price target of $137.00.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction 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 $2,681,370.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.56% of the company's stock.

Atkore Price Performance

Shares of ATKR stock traded down $1.06 during trading on Friday, hitting $83.77. The company had a trading volume of 764,945 shares, compared to its average volume of 622,645. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 5.22 and a beta of 2.15. The stock's 50-day moving average is $116.19 and its two-hundred day moving average is $146.53. Atkore Inc. has a 52 week low of $83.27 and a 52 week high of $194.98. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.28. The firm had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. Atkore's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.13 EPS. As a group, analysts predict that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. Atkore's payout ratio is 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.