Wedge Capital Management L L P NC Sells 6,982 Shares of Atkore Inc. (NYSE:ATKR)

Wedge Capital Management L L P NC decreased its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,135 shares of the company's stock after selling 6,982 shares during the period. Wedge Capital Management L L P NC owned 0.44% of Atkore worth $12,779,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ATKR. Commonwealth Equity Services LLC raised its holdings in shares of Atkore by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company's stock valued at $555,000 after purchasing an additional 129 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Atkore by 26.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,226 shares of the company's stock worth $1,110,000 after buying an additional 1,697 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Atkore by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 162,233 shares of the company's stock worth $21,890,000 after acquiring an additional 867 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in Atkore by 17.1% in the second quarter. Edgestream Partners L.P. now owns 3,991 shares of the company's stock worth $539,000 after acquiring an additional 582 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Atkore by 95.3% in the second quarter. Mutual of America Capital Management LLC now owns 37,394 shares of the company's stock valued at $5,046,000 after acquiring an additional 18,249 shares during the period.

Analyst Upgrades and Downgrades

ATKR has been the subject of several recent research reports. B. Riley downgraded shares of Atkore from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada reissued a "sector perform" rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Loop Capital dropped their target price on Atkore from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Roth Mkm began coverage on Atkore in a report on Tuesday, December 17th. They set a "buy" rating and a $100.00 price target for the company. Finally, Roth Capital upgraded Atkore to a "strong-buy" rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Atkore has an average rating of "Moderate Buy" and a consensus target price of $115.67.

Insiders Place Their Bets

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the transaction, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the sale, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock worth $1,614,975 over the last quarter. 1.99% of the stock is currently owned by company insiders.

Atkore Stock Performance

ATKR traded up $1.69 during midday trading on Friday, reaching $85.14. The company had a trading volume of 988,954 shares, compared to its average volume of 404,675. Atkore Inc. has a 12-month low of $76.01 and a 12-month high of $194.98. The business has a 50-day moving average price of $87.14 and a two-hundred day moving average price of $96.63. The stock has a market cap of $2.96 billion, a PE ratio of 6.74 and a beta of 2.13. 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 posted its quarterly earnings data on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The firm had revenue of $788.30 million during the quarter, compared to analysts' expectations of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. Atkore's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.63 EPS. On average, sell-side analysts expect that Atkore Inc. will post 6.62 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, December 6th. Atkore's dividend payout ratio (DPR) is presently 10.13%.

About Atkore

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.