Ausbil Investment Management Ltd Sells 16,610 Shares of Atkore Inc. (NYSE:ATKR)

Ausbil Investment Management Ltd decreased its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 81.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,841 shares of the company's stock after selling 16,610 shares during the period. Ausbil Investment Management Ltd's holdings in Atkore were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ATKR. Hodges Capital Management Inc. purchased a new stake in shares of Atkore during the 2nd quarter valued at about $4,158,000. Capital World Investors bought a new position in Atkore in the first quarter worth approximately $14,986,000. Sei Investments Co. boosted its stake in shares of Atkore by 44.3% during the 1st quarter. Sei Investments Co. now owns 65,913 shares of the company's stock worth $12,547,000 after acquiring an additional 20,244 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Atkore during the 2nd quarter valued at $23,306,000. Finally, Maverick Capital Ltd. increased its stake in shares of Atkore by 386.9% in the 2nd quarter. Maverick Capital Ltd. now owns 9,709 shares of the company's stock worth $1,310,000 after purchasing an additional 7,715 shares in the last quarter.

Wall Street Analyst Weigh In

ATKR has been the topic of several analyst reports. Royal Bank of Canada downgraded Atkore from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Loop Capital reduced their target price on shares of Atkore from $160.00 to $130.00 and set a "buy" rating for the company in a report on Friday, September 20th. KeyCorp lowered their price target on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, September 13th. Finally, B. Riley reduced their price objective on shares of Atkore from $183.00 to $135.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Atkore has an average rating of "Moderate Buy" and a consensus target price of $131.60.

Insider Activity at Atkore

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 transaction of $47,735.00. Following the completion of the transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.56% of the stock is currently owned by insiders.

Atkore Price Performance

NYSE ATKR traded up $0.26 during trading hours on Thursday, reaching $85.97. The company's stock had a trading volume of 378,674 shares, compared to its average volume of 615,784. 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 Inc. has a 1 year low of $80.11 and a 1 year high of $194.98. The firm's 50-day moving average price is $88.45 and its 200-day moving average price is $126.12. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 5.36 and a beta of 2.14.

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, beating the consensus estimate of $3.52 by $0.28. The company had revenue of $822.40 million during the quarter, compared to analysts' expectations of $830.16 million. Atkore had a net margin of 16.47% and a return on equity of 36.96%. Atkore's quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the company posted $5.13 earnings per share. On average, equities research analysts predict that Atkore Inc. will post 12.69 EPS 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 dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.49%. 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.