Atkore Inc. $ATKR Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Atkore Inc. by 44.6%, now owning 14,991 shares valued at $893,000 after selling 12,077 shares in the first quarter.
• Numerous hedge funds have increased their holdings, with CWM LLC boosting its position by 952.0%, now owning 5,565 shares worth $334,000.
• Atkore declared a quarterly dividend of $0.33, representing an annualized basis yield of 2.3% with a payout ratio of 42.31%.

Hsbc Holdings PLC reduced its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 44.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,991 shares of the company's stock after selling 12,077 shares during the period. Hsbc Holdings PLC's holdings in Atkore were worth $893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its position in shares of Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after purchasing an additional 259 shares during the period. GAMMA Investing LLC boosted its position in shares of Atkore by 1,514.7% during the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after purchasing an additional 515 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Atkore during the 1st quarter valued at about $37,000. Versant Capital Management Inc boosted its position in shares of Atkore by 358.9% during the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company's stock valued at $42,000 after purchasing an additional 542 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Atkore by 384.0% during the 1st quarter. Signaturefd LLC now owns 905 shares of the company's stock valued at $54,000 after purchasing an additional 718 shares in the last quarter.

Atkore Stock Performance

Shares of NYSE:ATKR traded down $0.29 during midday trading on Friday, reaching $57.92. The company had a trading volume of 97,406 shares, compared to its average volume of 596,763. The company's 50 day moving average price is $67.14 and its 200 day moving average price is $65.18. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.95 billion, a P/E ratio of 18.55 and a beta of 2.16. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $105.28.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were given a $0.33 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.32 annualized dividend and a dividend yield of 2.3%. Atkore's payout ratio is 42.31%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $59.37, for a total transaction of $59,370.00. Following the transaction, the insider directly owned 31,873 shares in the company, valued at $1,892,300.01. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ATKR shares. KeyCorp restated a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Citigroup reiterated a "neutral" rating and issued a $80.00 price target (up previously from $70.00) on shares of Atkore in a report on Monday, June 9th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $79.57.

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.