Atkore Inc. (NYSE:ATKR) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 184,590 shares of the company's stock after selling 18,570 shares during the quarter. Nuveen Asset Management LLC owned 0.53% of Atkore worth $15,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATKR. Barclays PLC raised its stake in Atkore by 50.2% in 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 last quarter. Exchange Traded Concepts LLC increased its holdings in Atkore by 2,642.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,947 shares of the company's stock worth $2,499,000 after purchasing an additional 28,855 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in Atkore by 16.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 3,799 shares of the company's stock worth $317,000 after acquiring an additional 544 shares in the last quarter. KBC Group NV increased its holdings in Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after buying an additional 469 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after purchasing an additional 195 shares during the last quarter.

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction on Friday, May 9th. The stock was 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 approximately $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Royal Bank of Canada boosted their target price on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Citigroup reduced their price objective on Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Loop Capital lowered shares of 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 report on Monday, February 10th. Finally, Roth Capital set a $78.00 price target on shares of Atkore and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Atkore currently has an average rating of "Moderate Buy" and an average target price of $77.57.

Atkore Price Performance

Shares of ATKR traded down $1.08 during trading hours on Friday, reaching $65.13. The company had a trading volume of 26,038 shares, compared to its average volume of 619,325. 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 12-month low of $49.92 and a 12-month high of $153.32. The firm has a 50 day simple moving average of $62.75 and a 200-day simple moving average of $73.17. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 6.30 and a beta of 2.10.

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

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Friday, May 16th. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio is 25.38%.

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.