Point72 Hong Kong Ltd Sells 74,469 Shares of Atkore Inc. (NYSE:ATKR)

Point72 Hong Kong Ltd decreased its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 95.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,664 shares of the company's stock after selling 74,469 shares during the period. Point72 Hong Kong Ltd's holdings in Atkore were worth $306,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. ProShare Advisors LLC lifted its holdings in Atkore by 45.4% during the fourth quarter. ProShare Advisors LLC now owns 10,089 shares of the company's stock valued at $842,000 after purchasing an additional 3,148 shares during the last quarter. Man Group plc grew its position in Atkore by 272.9% during the fourth quarter. Man Group plc now owns 87,482 shares of the company's stock valued at $7,300,000 after acquiring an additional 64,019 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of Atkore by 3.6% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,400 shares of the company's stock worth $1,452,000 after purchasing an additional 600 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Atkore by 5.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 275,152 shares of the company's stock worth $22,961,000 after purchasing an additional 14,059 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in Atkore in the fourth quarter worth $417,000.

Atkore Price Performance

Shares of Atkore stock traded up $0.02 during trading on Thursday, reaching $65.69. The company's stock had a trading volume of 47,197 shares, compared to its average volume of 681,015. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $157.25. The company has a market capitalization of $2.21 billion, a P/E ratio of 6.35 and a beta of 2.10. The business has a 50 day moving average price of $62.55 and a 200-day moving average price of $74.42.

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

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, May 16th. This is an increase from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio (DPR) is currently 25.38%.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the sale, the insider now owns 32,828 shares of the company's stock, valued at $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on ATKR shares. Royal Bank of Canada raised their price objective on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Citigroup cut their price target on Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. KeyCorp boosted their price objective on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Loop Capital cut Atkore from a "buy" rating to a "hold" rating and lowered their price target for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Finally, Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.57.

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.