LPL Financial LLC Has $269,000 Stock Holdings in Atkore Inc. (NYSE:ATKR)

LPL Financial LLC lessened its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 66.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,228 shares of the company's stock after selling 6,254 shares during the quarter. LPL Financial LLC's holdings in Atkore were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATKR. Victory Capital Management Inc. raised its position in Atkore by 3,948.4% during the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock valued at $39,291,000 after acquiring an additional 459,200 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Atkore by 10.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock valued at $111,467,000 after purchasing an additional 134,517 shares during the last quarter. E. Ohman J or Asset Management AB boosted its holdings in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock worth $26,569,000 after purchasing an additional 113,263 shares in the last quarter. Bank of New York Mellon Corp increased its position in Atkore by 80.7% during the fourth quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company's stock worth $20,580,000 after buying an additional 110,107 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Atkore during the fourth quarter valued at about $8,524,000.

Atkore Stock Performance

ATKR stock traded up $0.72 during trading on Thursday, reaching $64.59. 383,649 shares of the stock were exchanged, compared to its average volume of 698,183. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $180.62. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.24 billion, a P/E ratio of 6.25 and a beta of 2.02. The stock has a 50 day simple moving average of $61.11 and a 200-day simple moving average of $76.39.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. Atkore's revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.12 EPS. As a group, sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be paid a $0.33 dividend. This is a boost from Atkore's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.04%. Atkore's dividend payout ratio is currently 12.39%.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ATKR shares. Citigroup lowered their price objective on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Loop Capital downgraded Atkore from a "buy" rating to a "hold" rating and lowered their price target for the company from $115.00 to $65.00 in a report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 22nd. Finally, KeyCorp lowered their target price on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

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.