Atkore Inc. (NYSE:ATKR) Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its holdings in shares of Atkore Inc. (NYSE:ATKR) by 56.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,241 shares of the company’s stock after purchasing an additional 17,106 shares during the quarter. Citigroup Inc.’s holdings in Atkore were worth $4,003,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cetera Investment Advisers boosted its holdings in Atkore by 315.6% in the 1st quarter. Cetera Investment Advisers now owns 13,402 shares of the company’s stock worth $2,551,000 after acquiring an additional 10,177 shares during the period. Cetera Advisors LLC purchased a new position in shares of Atkore during the 1st quarter valued at approximately $473,000. Mather Group LLC. boosted its stake in shares of Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after buying an additional 421 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Atkore by 9.3% during the 2nd quarter. Park Avenue Securities LLC now owns 7,207 shares of the company’s stock valued at $972,000 after buying an additional 614 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in shares of Atkore by 10.1% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 2,755 shares of the company’s stock valued at $372,000 after buying an additional 252 shares during the last quarter.

Atkore Price Performance

Shares of NYSE ATKR opened at $93.88 on Wednesday. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The business’s fifty day moving average price is $88.84 and its two-hundred day moving average price is $109.68. The firm has a market capitalization of $3.28 billion, a PE ratio of 7.43 and a beta of 2.10.

Atkore (NYSE:ATKR) last issued its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.06). Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company had revenue of $788.30 million during the quarter, compared to analyst estimates of $749.49 million. During the same period in the prior year, the business earned $3.63 earnings per share. Atkore’s quarterly revenue was down 9.4% on a year-over-year basis. On average, research analysts expect that Atkore Inc. will post 6.69 EPS for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is 10.13%.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the transaction, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the transaction, the director now owns 25,585 shares of the company’s stock, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock valued at $1,614,975 over the last 90 days. 2.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ATKR has been the subject of several research analyst reports. Loop Capital reduced their target price on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada dropped their price target on Atkore from $99.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. B. Riley lowered 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. Finally, KeyCorp dropped their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Atkore has an average rating of “Hold” and an average target price of $117.00.

About Atkore

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.