River Road Asset Management LLC Sells 1,538 Shares of Atkore Inc. (NYSE:ATKR)

River Road Asset Management LLC cut its holdings in Atkore Inc. (NYSE:ATKR) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,093,418 shares of the company’s stock after selling 1,538 shares during the period. Atkore comprises approximately 1.2% of River Road Asset Management LLC’s portfolio, making the stock its 26th biggest holding. River Road Asset Management LLC owned about 3.15% of Atkore worth $91,246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. E. Ohman J or Asset Management AB grew its stake in Atkore by 55.2% in the 4th 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 during the period. Wellington Management Group LLP bought a new position in Atkore during the third quarter valued at about $7,916,000. Chase Investment Counsel Corp grew its position in Atkore by 97.0% during the third quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock valued at $1,101,000 after buying an additional 6,400 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Atkore by 729.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock worth $2,358,000 after buying an additional 24,476 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Atkore by 40.0% in the third quarter. Van ECK Associates Corp now owns 24,927 shares of the company’s stock worth $2,136,000 after acquiring an additional 7,123 shares during the period.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp cut their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Roth Mkm started coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.17.

Atkore Trading Up 1.3 %

Atkore stock opened at $65.72 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98. The stock has a market cap of $2.28 billion, a P/E ratio of 6.36 and a beta of 2.22. The firm’s fifty day moving average price is $74.85 and its 200-day moving average price is $83.50.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.12 EPS. Equities research analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.95%. Atkore’s payout ratio is presently 12.39%.

Insiders Place Their Bets

In other Atkore 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 transaction of $32,500.00. Following the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.