Atkore Inc. (NYSE:ATKR) Shares Sold by abrdn plc

abrdn plc decreased its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 451,866 shares of the company's stock after selling 34,225 shares during the period. abrdn plc owned about 1.22% of Atkore worth $72,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ATKR. Norges Bank acquired a new position in shares of Atkore during the fourth quarter worth $59,906,000. Capital Research Global Investors acquired a new position in shares of Atkore during the first quarter worth $42,940,000. Boston Partners grew its holdings in shares of Atkore by 149.7% during the third quarter. Boston Partners now owns 601,910 shares of the company's stock valued at $88,670,000 after buying an additional 360,837 shares during the last quarter. Balyasny Asset Management LLC grew its holdings in shares of Atkore by 987.0% during the third quarter. Balyasny Asset Management LLC now owns 172,986 shares of the company's stock valued at $13,460,000 after buying an additional 157,072 shares during the last quarter. Finally, River Road Asset Management LLC grew its holdings in shares of Atkore by 14.1% during the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company's stock valued at $201,646,000 after buying an additional 155,508 shares during the last quarter.

Insider Transactions at Atkore

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

Atkore Stock Performance

NYSE:ATKR traded up $0.64 during mid-day trading on Friday, hitting $171.82. The company's stock had a trading volume of 440,372 shares, compared to its average volume of 476,503. Atkore Inc. has a 1 year low of $116.14 and a 1 year high of $194.98. 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 stock has a market cap of $6.32 billion, a price-to-earnings ratio of 10.30 and a beta of 2.19. The business's fifty day moving average is $170.17 and its two-hundred day moving average is $152.29.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.08 by $1.04. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The company had revenue of $798.50 million for the quarter, compared to analyst estimates of $777.05 million. During the same period in the prior year, the company earned $4.51 earnings per share. The firm's revenue was down 4.2% on a year-over-year basis. Analysts anticipate that Atkore Inc. will post 15.06 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Monday, February 26th. Atkore's payout ratio is currently 7.67%.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an "outperform" rating and set a $187.00 price objective on shares of Atkore in a report on Friday, March 22nd. Citigroup boosted 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, April 8th. Finally, StockNews.com raised shares of Atkore from a "hold" rating to a "buy" rating in a report on Friday, April 5th.

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.