Sei Investments Co. Decreases Stock Holdings in Atkore Inc. (NYSE:ATKR)

Sei Investments Co. reduced its position in shares of Atkore Inc. (NYSE:ATKR) by 47.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,090 shares of the company’s stock after selling 24,896 shares during the period. Sei Investments Co.’s holdings in Atkore were worth $2,261,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ATKR. E. Ohman J or Asset Management AB raised its holdings in shares of 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 acquiring an additional 113,263 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Atkore in the 3rd quarter worth about $7,916,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Atkore by 729.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock valued at $2,358,000 after purchasing an additional 24,476 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Atkore by 10.9% in the fourth 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 in the last quarter. Finally, Barclays PLC raised its stake in Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company’s stock worth $5,994,000 after buying an additional 23,628 shares in the last quarter.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the 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 completion of the sale, the insider now owns 33,760 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 1.99% of the stock is currently owned by company insiders.

Atkore Stock Down 2.0 %

Atkore stock opened at $53.90 on Friday. Atkore Inc. has a one year low of $50.44 and a one year high of $185.47. The stock has a fifty day moving average of $66.40 and a 200 day moving average of $79.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The stock has a market cap of $1.87 billion, a PE ratio of 5.22 and a beta of 2.02.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same quarter in the prior year, the business earned $4.12 EPS. The business’s quarterly revenue was down 17.1% on a year-over-year basis. As a group, sell-side analysts predict that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.37%. Atkore’s dividend payout ratio (DPR) is 12.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Loop Capital lowered 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. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. KeyCorp decreased 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 report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.17.

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.