BNP Paribas Financial Markets Cuts Stake in Atkore Inc. (NYSE:ATKR)

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

Other hedge funds have also recently made changes to their positions in the company. E. Ohman J or Asset Management AB lifted its holdings in shares of Atkore by 55.2% in 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 acquiring an additional 113,263 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock valued at $111,467,000 after buying an additional 134,517 shares during the last quarter. Barclays PLC boosted its position in Atkore by 50.2% during the 3rd quarter. Barclays PLC now owns 70,736 shares of the company's stock valued at $5,994,000 after buying an additional 23,628 shares during the period. Swedbank AB boosted its position in Atkore by 18.4% during the 4th quarter. Swedbank AB now owns 296,791 shares of the company's stock valued at $24,767,000 after buying an additional 46,200 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Atkore by 17.4% during the 4th quarter. Principal Financial Group Inc. now owns 56,168 shares of the company's stock valued at $4,687,000 after buying an additional 8,343 shares during the period.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of the 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 completion of the transaction, the insider now directly owns 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ATKR has been the subject of several analyst reports. Citigroup dropped their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Roth Capital set a $78.00 price target on shares of Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. KeyCorp increased their price target 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. Royal Bank of Canada increased their price target on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Finally, Loop Capital cut shares of Atkore from a "buy" rating to a "hold" rating and dropped their price target for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Atkore currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.57.

Atkore Trading Down 0.4%

NYSE ATKR traded down $0.31 during trading on Monday, hitting $68.61. The company had a trading volume of 278,166 shares, compared to its average volume of 684,347. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a one year low of $49.92 and a one year high of $157.25. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 6.64 and a beta of 2.10. The company's fifty day moving average is $62.42 and its 200-day moving average is $74.52.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data 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 net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. During the same period in the prior year, the business earned $4.08 EPS. The company's revenue for the quarter was down 11.5% on a year-over-year basis. On average, sell-side analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.92%. This is a positive change from Atkore's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 16th. Atkore's dividend payout ratio (DPR) is presently 25.38%.

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.