Atkore Inc. (NYSE:ATKR) Shares Sold by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP trimmed its position in Atkore Inc. (NYSE:ATKR - Free Report) by 75.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,433 shares of the company's stock after selling 10,823 shares during the period. Occudo Quantitative Strategies LP's holdings in Atkore were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ATKR. Gates Capital Management Inc. increased its position in Atkore by 29.6% during the 4th quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company's stock worth $217,584,000 after purchasing an additional 595,774 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock valued at $111,467,000 after buying an additional 134,517 shares in the last quarter. First Trust Advisors LP grew its holdings in Atkore by 195.6% during the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock worth $98,009,000 after acquiring an additional 777,113 shares during the period. Dimensional Fund Advisors LP raised its position in Atkore by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company's stock worth $91,028,000 after acquiring an additional 6,234 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in Atkore by 24.2% in the fourth quarter. LSV Asset Management now owns 924,100 shares of the company's stock valued at $77,116,000 after acquiring an additional 180,160 shares during the period.

Atkore Price Performance

ATKR traded down $0.22 during midday trading on Thursday, reaching $65.45. 39,794 shares of the company's stock were exchanged, compared to its average volume of 680,989. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $157.25. The stock has a market capitalization of $2.20 billion, a PE ratio of 6.34 and a beta of 2.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The business's 50-day moving average price is $62.55 and its 200 day moving average price is $74.42.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.52. The firm had revenue of $701.73 million during the quarter, compared to the consensus estimate of $690.83 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company's quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.08 EPS. As a group, equities analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be given a $0.33 dividend. This is an increase from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, May 16th. Atkore's dividend payout ratio is currently 25.38%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ATKR shares. Citigroup lowered their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Royal Bank of Canada increased their target price on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Roth Capital set a $78.00 price target on Atkore and gave the stock a "buy" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Atkore currently has an average rating of "Moderate Buy" and a consensus price target of $77.57.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.16, for a total value of $69,160.00. Following the transaction, the insider now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. This represents a 2.96% decrease in their position. The transaction 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.

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.