Universal Beteiligungs und Servicegesellschaft mbH Sells 39,117 Shares of Atkore Inc. (NYSE:ATKR)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH sold 39,117 shares of Atkore Inc., reducing its holding by 32% to 83,195 shares, which are valued at approximately $4.99 million.
• Atkore recently reported quarterly earnings of $2.04 per share, surpassing expectations and revealing an 11.5% decline in revenue year-over-year to $701.73 million.
• The company announced an increase in its quarterly dividend to $0.33 per share, with an annual dividend yield of 1.66%, reflecting a dividend payout ratio of 25.38%.

Universal Beteiligungs und Servicegesellschaft mbH cut its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,195 shares of the company's stock after selling 39,117 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.24% of Atkore worth $4,991,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Peterson Wealth Services grew its position in Atkore by 14.9% in the 1st quarter. Peterson Wealth Services now owns 7,864 shares of the company's stock worth $472,000 after purchasing an additional 1,017 shares in the last quarter. Easterly Investment Partners LLC grew its position in shares of Atkore by 7.7% during the 1st quarter. Easterly Investment Partners LLC now owns 55,564 shares of the company's stock valued at $3,333,000 after acquiring an additional 3,956 shares during the period. Victory Capital Management Inc. grew its position in shares of Atkore by 33.4% during the 1st quarter. Victory Capital Management Inc. now owns 628,300 shares of the company's stock valued at $37,692,000 after acquiring an additional 157,470 shares during the period. Signaturefd LLC grew 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 acquiring an additional 718 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Atkore during the 1st quarter valued at approximately $4,311,000.

Atkore Price Performance

Shares of Atkore stock traded down $0.05 on Thursday, hitting $77.64. 74,223 shares of the company traded hands, compared to its average volume of 572,608. The firm's 50-day simple moving average is $71.07 and its 200 day simple moving average is $68.44. The company has a current ratio of 3.02, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.61 billion, a P/E ratio of 14.92 and a beta of 2.05. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $139.00.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The company had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. During the same quarter last year, the firm earned $4.08 EPS. The firm's quarterly revenue was down 11.5% compared to the same quarter last year. Analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.70%. Atkore's dividend payout ratio (DPR) is presently 25.38%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 32,828 shares of the company's stock, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ATKR. Royal Bank Of Canada raised their price objective on shares of Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $80.00 target price (up from $70.00) on shares of Atkore in a research note on Monday, June 9th. Roth Capital set a $78.00 target price on shares of Atkore and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, KeyCorp increased their target price on shares of Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.