Ameriprise Financial Inc. Has $46.14 Million Holdings in Atkore Inc. (NYSE:ATKR)

Ameriprise Financial Inc. lessened its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 40.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 552,958 shares of the company's stock after selling 381,501 shares during the quarter. Ameriprise Financial Inc. owned 1.59% of Atkore worth $46,144,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Lakewood Asset Management LLC boosted its holdings in Atkore by 1.4% in the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company's stock valued at $756,000 after acquiring an additional 126 shares during the last quarter. Van Den Berg Management I Inc. raised its holdings in Atkore by 0.4% during the 4th quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock worth $3,425,000 after purchasing an additional 158 shares during the last quarter. Isthmus Partners LLC lifted its position in Atkore by 0.8% during the 4th quarter. Isthmus Partners LLC now owns 21,441 shares of the company's stock valued at $1,789,000 after purchasing an additional 162 shares during the period. Xponance Inc. boosted its stake in shares of Atkore by 6.9% in the 4th quarter. Xponance Inc. now owns 2,569 shares of the company's stock valued at $214,000 after purchasing an additional 166 shares during the last quarter. Finally, Willis Investment Counsel grew its position in shares of Atkore by 3.3% during the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company's stock worth $446,000 after buying an additional 171 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ATKR. StockNews.com raised shares of Atkore from a "hold" rating to a "buy" rating in a research note on Monday. Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and dropped their target price for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Roth Capital set a $78.00 price objective on shares of Atkore and gave the stock a "buy" rating in a research report on Wednesday, May 7th. KeyCorp boosted their price objective on shares of Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada boosted their price target on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $77.57.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.16, for a total value of $69,160.00. Following the transaction, the insider now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.99% of the stock is owned by corporate insiders.

Atkore Stock Performance

Shares of Atkore stock traded down $0.91 during trading on Wednesday, hitting $69.25. 419,625 shares of the stock were exchanged, compared to its average volume of 686,306. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $158.90. 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 $2.33 billion, a price-to-earnings ratio of 6.70 and a beta of 2.10. The company has a fifty day moving average price of $62.04 and a 200-day moving average price of $75.09.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $701.73 million during the quarter, compared to the consensus estimate of $690.83 million. During the same period in the previous year, the company posted $4.08 EPS. The firm's revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities analysts predict that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be given a $0.33 dividend. This is an increase from Atkore's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.91%. Atkore's dividend payout ratio is presently 25.38%.

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.