Stifel Financial Corp Sells 7,092 Shares of Atkore Inc. (NYSE:ATKR)

Stifel Financial Corp trimmed its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 55.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,729 shares of the company's stock after selling 7,092 shares during the period. Stifel Financial Corp's holdings in Atkore were worth $485,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hodges Capital Management Inc. purchased a new stake in shares of Atkore in the second quarter worth $4,158,000. Maverick Capital Ltd. boosted its holdings in 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 buying an additional 7,715 shares during the period. Chase Investment Counsel Corp increased its stake in Atkore by 97.0% in the 3rd quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company's stock worth $1,101,000 after buying an additional 6,400 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Atkore during the second quarter valued at about $3,095,000. Finally, M&G PLC purchased a new position in shares of Atkore in the third quarter valued at about $9,123,000.

Insider Activity at Atkore

In related news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares in the company, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,924 shares of company stock worth $1,614,975. Insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

ATKR has been the subject of several research analyst reports. B. Riley cut Atkore from a "buy" rating to a "neutral" rating and cut their target price for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They set a "buy" rating and a $100.00 price objective for the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $102.00 target price (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. KeyCorp dropped their target price on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, September 13th. Finally, Roth Capital upgraded shares of Atkore to a "strong-buy" rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Atkore presently has a consensus rating of "Moderate Buy" and an average price target of $115.67.

Atkore Price Performance

ATKR stock traded down $0.53 during trading on Friday, hitting $83.37. 408,756 shares of the company's stock traded hands, compared to its average volume of 627,378. Atkore Inc. has a 52 week low of $76.01 and a 52 week high of $194.98. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.60 and a beta of 2.10. The business has a fifty day simple moving average of $89.07 and a 200 day simple moving average of $102.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing analysts' consensus estimates of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. During the same period in the previous year, the business posted $3.63 EPS. The firm's revenue was down 9.4% on a year-over-year basis. As a group, research analysts expect that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, December 6th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.54%. Atkore's dividend payout ratio is presently 10.13%.

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.