Peregrine Capital Management LLC Sells 7,512 Shares of Atkore Inc. (NYSE:ATKR)

Peregrine Capital Management LLC lessened its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,320 shares of the company's stock after selling 7,512 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.16% of Atkore worth $9,651,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in Atkore during the 3rd quarter worth approximately $30,000. Quarry LP boosted its stake in Atkore by 72.4% during the 2nd quarter. Quarry LP now owns 200 shares of the company's stock worth $31,000 after acquiring an additional 84 shares during the last quarter. Anchor Investment Management LLC bought a new position in Atkore during the 4th quarter worth approximately $32,000. Captrust Financial Advisors boosted its stake in Atkore by 85.6% during the 2nd quarter. Captrust Financial Advisors now owns 607 shares of the company's stock worth $50,000 after acquiring an additional 280 shares during the last quarter. Finally, Point72 Middle East FZE bought a new position in Atkore during the 4th quarter worth approximately $51,000.

Wall Street Analyst Weigh In

Several brokerages have commented on ATKR. Royal Bank of Canada restated an "outperform" rating and set a $187.00 target price on shares of Atkore in a report on Friday, March 22nd. Citigroup lifted their price objective on shares of Atkore from $176.00 to $200.00 and gave the company a "neutral" rating in a report on Monday. Finally, StockNews.com upgraded shares of Atkore from a "hold" rating to a "buy" rating in a report on Friday, April 5th.

Insiders Place Their Bets

In other news, VP Daniel S. Kelly sold 8,685 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the sale, the vice president now owns 34,907 shares of the company's stock, valued at $6,041,354.49. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Leangela W. Lowe sold 6,500 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the sale, the vice president now owns 25,590 shares of the company's stock, valued at $4,505,631.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daniel S. Kelly sold 8,685 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the completion of the sale, the vice president now directly owns 34,907 shares of the company's stock, valued at approximately $6,041,354.49. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock valued at $25,124,751 over the last ninety days. 2.56% of the stock is currently owned by company insiders.

Atkore Stock Performance

ATKR stock traded down $4.35 during midday trading on Wednesday, reaching $172.75. 578,096 shares of the company were exchanged, compared to its average volume of 452,306. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. The business has a 50-day moving average price of $166.17 and a two-hundred day moving average price of $150.82. Atkore Inc. has a one year low of $116.14 and a one year high of $194.98. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 10.36 and a beta of 2.19.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $3.08 by $1.04. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The firm had revenue of $798.50 million during the quarter, compared to analysts' expectations of $777.05 million. During the same period in the previous year, the business posted $4.51 earnings per share. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts forecast that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.28 dividend on an annualized basis and a yield of 0.74%. Atkore's dividend payout ratio (DPR) is 7.67%.

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.