Envestnet Asset Management Inc. Decreases Stake in Atkore Inc. (NYSE:ATKR)

Envestnet Asset Management Inc. decreased its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,518 shares of the company's stock after selling 17,686 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Atkore worth $3,047,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 186 shares during the period. Pacer Advisors Inc. raised its holdings in Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock valued at $70,000 after buying an additional 195 shares during the period. Harbour Investments Inc. lifted its position in 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 buying an additional 1,000 shares during the last quarter. KBC Group NV increased its position in shares of Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after acquiring an additional 469 shares during the last quarter. Finally, Matrix Trust Co raised its stake in shares of Atkore by 657.7% in the 4th quarter. Matrix Trust Co now owns 2,129 shares of the company's stock valued at $178,000 after acquiring an additional 1,848 shares during the period.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares of the company's stock, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.99% of the stock is owned by corporate insiders.

Atkore Stock Performance

Shares of NYSE:ATKR traded up $1.14 during trading on Thursday, reaching $65.01. The company had a trading volume of 36,628 shares, compared to its average volume of 696,861. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $180.62. 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 stock's fifty day moving average price is $61.11 and its 200 day moving average price is $76.39. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 6.31 and a beta of 2.02.

Atkore (NYSE:ATKR - Get Free Report) last released 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. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. Atkore's quarterly revenue was down 17.1% on a year-over-year basis. During the same period last year, the business posted $4.12 EPS. As a group, equities research analysts predict that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be given a dividend of $0.33 per share. This is an increase from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 2.03%. Atkore's payout ratio is currently 12.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup lowered their target price on Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank of Canada upped their target price on shares of Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 22nd. KeyCorp reduced their price objective on Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Loop Capital cut Atkore from a "buy" rating to a "hold" rating and lowered their target price for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $75.00.

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.