Russell Investments Group Ltd. Sells 11,102 Shares of Atkore Inc. (NYSE:ATKR)

Russell Investments Group Ltd. lowered its position in Atkore Inc. (NYSE:ATKR) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,437 shares of the company’s stock after selling 11,102 shares during the period. Russell Investments Group Ltd. owned about 0.18% of Atkore worth $5,294,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ATKR. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after buying an additional 134,517 shares during the period. Wellington Management Group LLP lifted its position in Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock valued at $50,658,000 after acquiring an additional 513,631 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Atkore by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock worth $44,243,000 after purchasing an additional 50,194 shares during the period. Norges Bank bought a new position in Atkore during the 4th quarter worth about $42,339,000. Finally, Victory Capital Management Inc. raised its stake in shares of Atkore by 3,948.4% in the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after purchasing an additional 459,200 shares during the period.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. This represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ATKR shares. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. KeyCorp decreased their price target on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Citigroup cut their price objective on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday. Roth Mkm assumed coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.17.

Atkore Stock Performance

Shares of ATKR opened at $58.01 on Tuesday. The company has a market cap of $2.01 billion, a PE ratio of 5.62 and a beta of 2.02. The firm has a 50-day moving average of $63.00 and a 200-day moving average of $78.26. Atkore Inc. has a one year low of $49.92 and a one year high of $185.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96.

Atkore (NYSE:ATKR) last announced its quarterly 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. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. During the same quarter in the previous year, the business earned $4.12 earnings per share. The business’s revenue was down 17.1% compared to the same quarter last year. As a group, equities analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.21%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio is 12.39%.

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.