Atkore Inc. (NYSE:ATKR) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 55.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,670 shares of the company's stock after selling 66,193 shares during the quarter. BNP Paribas Financial Markets owned about 0.15% of Atkore worth $4,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ATKR. Jones Financial Companies Lllp increased its holdings in shares of Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock valued at $33,000 after purchasing an additional 186 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock valued at $70,000 after purchasing an additional 195 shares during the period. Harbour Investments Inc. increased its holdings in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after purchasing an additional 1,000 shares during the period. KBC Group NV increased its holdings in shares of Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after purchasing an additional 469 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Atkore by 88.5% in the fourth quarter. Covestor Ltd now owns 1,889 shares of the company's stock valued at $157,000 after purchasing an additional 887 shares during the period.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the transaction, the insider now directly owns 32,828 shares of the company's stock, valued at $2,270,384.48. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ATKR shares. Royal Bank of Canada boosted their target price on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. StockNews.com upgraded Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. KeyCorp lifted their price target on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Loop Capital downgraded Atkore from a "buy" rating to a "hold" rating and decreased their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, Citigroup decreased their price target on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Atkore has a consensus rating of "Moderate Buy" and a consensus price target of $77.57.

Atkore Price Performance

ATKR stock traded down $0.61 during midday trading on Friday, hitting $68.82. 353,703 shares of the stock were exchanged, compared to its average volume of 684,798. The stock's 50-day moving average price is $62.33 and its 200-day moving average price is $74.80. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 6.66 and a beta of 2.10. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $157.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03.

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

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 1.92%. Atkore's payout ratio is currently 25.38%.

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.