Atkore Inc. (NYSE:ATKR) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 55.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,846 shares of the company's stock after selling 35,975 shares during the period. Squarepoint Ops LLC owned 0.08% of Atkore worth $2,407,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Trust Advisors LP boosted its holdings in Atkore by 195.6% in the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock valued at $98,009,000 after purchasing an additional 777,113 shares during the period. Gates Capital Management Inc. lifted its holdings in shares of Atkore by 29.6% in the fourth quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company's stock worth $217,584,000 after acquiring an additional 595,774 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock valued at $50,658,000 after purchasing an additional 513,631 shares in the last quarter. Norges Bank bought a new stake in shares of Atkore during the 4th quarter valued at approximately $42,339,000. Finally, Victory Capital Management Inc. increased its position in Atkore by 3,948.4% during the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock worth $39,291,000 after purchasing an additional 459,200 shares in the last quarter.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction on Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.99% of the company's stock.

Atkore Stock Down 1.7%

Shares of ATKR stock traded down $1.13 during mid-day trading on Friday, hitting $65.08. The company's stock had a trading volume of 279,595 shares, compared to its average volume of 678,767. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $153.32. The business has a 50-day moving average price of $62.77 and a 200 day moving average price of $72.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The stock has a market cap 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 issued its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $690.83 million. During the same quarter in the prior year, the firm posted $4.08 EPS. Atkore's quarterly revenue was down 11.5% compared to the same quarter last year. Research analysts predict that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup cut their price target on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. KeyCorp upped their target price on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Loop Capital lowered 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, Royal Bank of Canada upped their target price on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.57.

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.