Atkore Inc. (NYSE:ATKR) Stock Holdings Lessened by National Bank of Canada FI

National Bank of Canada FI cut its holdings in Atkore Inc. (NYSE:ATKR) by 42.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,822 shares of the company’s stock after selling 19,740 shares during the period. National Bank of Canada FI’s holdings in Atkore were worth $2,238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after acquiring an additional 134,517 shares during the period. Wellington Management Group LLP boosted its position in Atkore by 549.9% during the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock valued at $50,658,000 after purchasing an additional 513,631 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Atkore by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock worth $44,243,000 after buying an additional 50,194 shares during the last quarter. Norges Bank acquired a new stake in Atkore in the fourth quarter worth $42,339,000. Finally, Victory Capital Management Inc. lifted its stake in Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after buying an additional 459,200 shares during the last quarter.

Atkore Stock Performance

ATKR opened at $51.77 on Wednesday. The business has a 50 day moving average price of $64.66 and a two-hundred day moving average price of $79.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 5.01 and a beta of 2.02. Atkore Inc. has a 1-year low of $49.40 and a 1-year high of $185.42.

Atkore (NYSE:ATKR) last announced its quarterly earnings data 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. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the prior year, the firm posted $4.12 earnings per share. The company’s revenue was down 17.1% on a year-over-year basis. Research analysts predict that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.47%. Atkore’s payout ratio is currently 12.39%.

Insider Activity at Atkore

In other 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 transaction of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ATKR shares. Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and cut their price target for the company from $115.00 to $65.00 in a report on Monday, February 10th. KeyCorp decreased their price objective on Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, 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 on the stock. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.50.

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.