American Century Companies Inc. Sells 193,070 Shares of Atkore Inc. (NYSE:ATKR)

American Century Companies Inc. cut its holdings in Atkore Inc. (NYSE:ATKR) by 19.8% during the 4th quarter, HoldingsChannel reports. The fund owned 783,813 shares of the company’s stock after selling 193,070 shares during the quarter. American Century Companies Inc.’s holdings in Atkore were worth $65,409,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after purchasing an additional 134,517 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Atkore by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock valued at $44,243,000 after purchasing an additional 50,194 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Atkore by 3,948.4% during the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock worth $39,291,000 after buying an additional 459,200 shares in the last quarter. Royce & Associates LP lifted its position in shares of Atkore by 4.2% during the 4th quarter. Royce & Associates LP now owns 412,752 shares of the company’s stock worth $34,444,000 after buying an additional 16,698 shares during the last quarter. Finally, E. Ohman J or Asset Management AB lifted its position in shares of Atkore by 55.2% during the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after buying an additional 113,263 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on ATKR. Roth Mkm started coverage on Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 target price (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. KeyCorp lowered their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. 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 stock. According to MarketBeat.com, Atkore presently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.99% of the company’s stock.

Atkore Stock Performance

NYSE ATKR opened at $64.19 on Wednesday. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 6.21 and a beta of 2.22. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. Atkore Inc. has a twelve month low of $55.91 and a twelve month high of $194.98. The stock has a fifty day simple moving average of $70.55 and a 200 day simple moving average of $81.32.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business’s quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.12 earnings per share. Sell-side analysts expect that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

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.