Invesco Ltd. Sells 460,265 Shares of Atkore Inc. $ATKR

Key Points

• Invesco Ltd. reduced its stake in Atkore Inc. by 85.7%, owning 76,975 shares after selling 460,265 shares during the first quarter.
• Several institutional investors, including Hsbc Holdings PLC and Northern Trust Corp, have increased their stakes in Atkore, reflecting a mixed investment sentiment.
• Atkore recently announced a $0.33 quarterly dividend, with an annualized yield of 2.3%, as its financial health remains solid with a current ratio of 3.09.

Invesco Ltd. trimmed its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 85.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,975 shares of the company's stock after selling 460,265 shares during the period. Invesco Ltd. owned approximately 0.22% of Atkore worth $4,618,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its position in shares of Atkore by 97.0% during the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after purchasing an additional 259 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after purchasing an additional 515 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Atkore during the first quarter worth approximately $37,000. Versant Capital Management Inc lifted its position in shares of Atkore by 358.9% during the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after purchasing an additional 542 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Atkore by 384.0% during the first quarter. Signaturefd LLC now owns 905 shares of the company's stock worth $54,000 after purchasing an additional 718 shares in the last quarter.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $59.37, for a total value of $59,370.00. Following the completion of the sale, the insider owned 31,873 shares of the company's stock, valued at approximately $1,892,300.01. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.99% of the company's stock.

Atkore Trading Down 1.3%

NYSE ATKR traded down $0.77 during trading hours on Wednesday, hitting $56.69. The company's stock had a trading volume of 637,778 shares, compared to its average volume of 751,452. The stock has a fifty day moving average of $67.39 and a 200 day moving average of $65.28. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $105.28. The firm has a market capitalization of $1.91 billion, a P/E ratio of 18.17 and a beta of 2.16. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52.

Atkore Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ATKR shares. Citigroup reiterated a "neutral" rating and set a $80.00 target price (up from $70.00) on shares of Atkore in a research report on Monday, June 9th. Roth Capital set a $78.00 price objective on shares of Atkore and gave the company a "buy" rating in a report on Wednesday, May 7th. KeyCorp restated a "sector weight" rating on shares of Atkore in a report on Wednesday, August 6th. Royal Bank Of Canada increased their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $79.57.

Atkore 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.