Jupiter Asset Management Ltd. Sells 5,964 Shares of Atkore Inc. (NYSE:ATKR)

Jupiter Asset Management Ltd. cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,521 shares of the company’s stock after selling 5,964 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.27% of Atkore worth $18,945,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Atkore by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 200,175 shares of the company’s stock worth $32,028,000 after acquiring an additional 3,036 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Atkore by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 629,420 shares of the company’s stock worth $100,707,000 after acquiring an additional 12,189 shares in the last quarter. Sei Investments Co. lifted its holdings in Atkore by 44.3% during the first quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock worth $12,547,000 after acquiring an additional 20,244 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Atkore by 121.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 243,695 shares of the company’s stock valued at $38,991,000 after purchasing an additional 133,622 shares in the last quarter. Finally, Duality Advisers LP lifted its holdings in shares of Atkore by 166.9% in the first quarter. Duality Advisers LP now owns 10,277 shares of the company’s stock valued at $1,956,000 after purchasing an additional 6,427 shares in the last quarter.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the transaction, the insider now owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the transaction, the insider now owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now directly owns 15,695 shares in the company, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.

Atkore Stock Down 1.8 %

ATKR traded down $2.60 on Friday, hitting $141.83. 532,457 shares of the company were exchanged, compared to its average volume of 494,787. Atkore Inc. has a 12 month low of $121.00 and a 12 month high of $194.98. The company has a market cap of $5.17 billion, a PE ratio of 8.84 and a beta of 2.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09. The stock’s fifty day moving average is $142.88 and its 200-day moving average is $157.22.

Atkore (NYSE:ATKR) last released its earnings results on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The business had revenue of $792.90 million for the quarter, compared to analyst estimates of $808.22 million. During the same quarter in the prior year, the company posted $4.31 earnings per share. Atkore’s revenue was down 11.5% on a year-over-year basis. Equities research analysts predict that Atkore Inc. will post 14.93 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Monday, May 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Analyst Upgrades and Downgrades

ATKR has been the topic of a number of research reports. Citigroup cut their price target on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. KeyCorp initiated coverage on Atkore in a report on Wednesday, July 10th. They issued an “overweight” rating and a $175.00 price target on the stock. Finally, StockNews.com lowered Atkore from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Atkore has an average rating of “Moderate Buy” and an average target price of $184.00.

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.