Cresset Asset Management LLC Sells 4,266 Shares of Atkore Inc. (NYSE:ATKR)

Cresset Asset Management LLC trimmed its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,725 shares of the company's stock after selling 4,266 shares during the period. Cresset Asset Management LLC's holdings in Atkore were worth $394,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Barclays PLC increased its holdings 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 purchasing an additional 23,628 shares during the period. Lakewood Asset Management LLC raised its holdings in shares of Atkore by 1.4% during 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 in the last quarter. Exchange Traded Concepts LLC lifted its stake in Atkore by 2,642.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 29,947 shares of the company's stock worth $2,499,000 after acquiring an additional 28,855 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in Atkore by 16.7% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 3,799 shares of the company's stock valued at $317,000 after acquiring an additional 544 shares in the last quarter. Finally, KBC Group NV increased its position in Atkore by 47.7% during the 4th 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.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $69.16, for a total value of $69,160.00. Following the sale, the insider now owns 32,828 shares in the company, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ATKR shares. KeyCorp upped their price objective on shares of Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. StockNews.com upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. 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. Royal Bank of Canada increased their price objective on 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 downgraded Atkore from a "buy" rating to a "hold" rating and lowered their target price for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.57.

Atkore Price Performance

ATKR stock traded down $1.23 during midday trading on Wednesday, hitting $67.00. The company's stock had a trading volume of 37,540 shares, compared to its average volume of 640,735. 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 12 month low of $49.92 and a 12 month high of $157.24. The company has a 50 day moving average of $62.53 and a two-hundred day moving average of $74.48. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 6.49 and a beta of 2.10.

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

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be paid a $0.33 dividend. This is an increase from Atkore's previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 16th. This represents a $1.32 dividend on an annualized basis and a yield of 1.97%. Atkore's payout ratio 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.