LSV Asset Management Trims Stock Position in Atkore Inc. (NYSE:ATKR)

LSV Asset Management reduced its stake in Atkore Inc. (NYSE:ATKR) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 835,600 shares of the company’s stock after selling 55,100 shares during the quarter. LSV Asset Management owned 2.27% of Atkore worth $159,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. ICA Group Wealth Management LLC purchased a new position in shares of Atkore in the 4th quarter valued at about $25,000. GAMMA Investing LLC purchased a new position in Atkore in the fourth quarter valued at about $26,000. LifeSteps Financial Inc. acquired a new stake in shares of Atkore during the 1st quarter valued at approximately $33,000. Global Retirement Partners LLC boosted its stake in shares of Atkore by 405.1% during the 1st quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock worth $38,000 after acquiring an additional 158 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Atkore in the 4th quarter worth approximately $32,000.

Analysts Set New Price Targets

A number of analysts have commented on ATKR shares. Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. Citigroup decreased their price objective on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. KeyCorp began coverage on shares of Atkore in a report on Wednesday. They set an “overweight” rating and a $175.00 target price for the company. Finally, StockNews.com downgraded shares of Atkore from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.00.

Insider Activity

In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $153.23, for a total value of $91,784.77. Following the completion of the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the company’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 of the company’s stock, valued at approximately $2,404,944.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the firm’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 sale, the insider now directly owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

Atkore Trading Up 0.6 %

Shares of NYSE:ATKR traded up $0.86 during trading on Friday, reaching $143.06. 423,274 shares of the stock were exchanged, compared to its average volume of 516,701. The firm’s 50-day moving average price is $144.43 and its 200 day moving average price is $157.82. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 8.92 and a beta of 2.15. Atkore Inc. has a 12-month low of $121.00 and a 12-month high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Monday, May 6th. The company reported $4.08 EPS for the quarter, beating 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 company had revenue of $792.90 million for the quarter, compared to analyst estimates of $808.22 million. During the same period last year, the company posted $4.31 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.89%. Atkore’s dividend payout ratio is currently 7.98%.

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.