Atkore Inc. (NYSE:ATKR) Shares Sold by Prudential PLC

Prudential PLC lessened its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 64.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,321 shares of the company's stock after selling 6,125 shares during the quarter. Prudential PLC's holdings in Atkore were worth $277,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Atkore by 549.9% during the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock worth $50,658,000 after purchasing an additional 513,631 shares during the period. Norges Bank purchased a new position in Atkore during the fourth quarter worth about $42,339,000. Victory Capital Management Inc. raised its stake in shares of Atkore by 3,948.4% in the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock valued at $39,291,000 after acquiring an additional 459,200 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atkore by 10.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock worth $111,467,000 after acquiring an additional 134,517 shares during the last quarter. Finally, E. Ohman J or Asset Management AB increased its holdings in Atkore by 55.2% in the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock valued at $26,569,000 after purchasing an additional 113,263 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently commented on ATKR. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and lowered their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Roth Capital raised shares of Atkore to a "strong-buy" rating in a research note on Monday, December 16th. Roth Mkm initiated coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a "buy" rating and a $100.00 price target for the company. Finally, KeyCorp decreased their target price on Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Atkore currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.50.

Atkore Stock Up 0.3 %

ATKR stock traded up $0.19 during trading on Monday, hitting $58.20. 36,269 shares of the company's stock were exchanged, compared to its average volume of 696,574. The business has a 50-day moving average price of $63.15 and a two-hundred day moving average price of $78.46. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 5.63 and a beta of 2.02. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $185.42.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company's revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.12 EPS. As a group, equities research analysts expect that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.20%. The ex-dividend date was Tuesday, February 18th. Atkore's dividend payout ratio (DPR) is 12.39%.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now owns 33,760 shares of the company's stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.99% 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.