Price T Rowe Associates Inc. MD Has $2.57 Million Stake in Atkore Inc. (NYSE:ATKR)

Price T Rowe Associates Inc. MD reduced its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 90.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,840 shares of the company's stock after selling 291,859 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.09% of Atkore worth $2,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. E. Ohman J or Asset Management AB raised its position in Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock valued at $26,569,000 after purchasing an additional 113,263 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock worth $111,467,000 after buying an additional 134,517 shares during the last quarter. Barclays PLC lifted its position in shares of Atkore by 50.2% during the 3rd quarter. Barclays PLC now owns 70,736 shares of the company's stock worth $5,994,000 after buying an additional 23,628 shares during the last quarter. Swedbank AB raised its stake in Atkore by 18.4% during the fourth quarter. Swedbank AB now owns 296,791 shares of the company's stock worth $24,767,000 after acquiring an additional 46,200 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Atkore by 17.4% in the fourth quarter. Principal Financial Group Inc. now owns 56,168 shares of the company's stock worth $4,687,000 after acquiring an additional 8,343 shares during the last quarter.

Atkore Trading Down 1.1 %

NYSE:ATKR traded down $0.73 on Friday, reaching $67.95. 478,152 shares of the stock traded hands, compared to its average volume of 688,466. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $159.30. The company's 50 day moving average is $61.77 and its 200-day moving average is $75.30. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6.58 and a beta of 2.10.

Atkore (NYSE:ATKR - Get Free Report) last announced its 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 business had revenue of $701.73 million during the quarter, compared to the consensus estimate of $690.83 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. Atkore's quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.08 earnings per share. Equities research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The firm 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 $0.33 dividend. This is an increase from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, May 16th. Atkore's payout ratio is presently 25.38%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and dropped their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. KeyCorp raised their price objective on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday. Citigroup lowered their target price on Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Roth Capital set a $78.00 price target on Atkore and gave the stock a "buy" rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average 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.