Handelsbanken Fonder AB Has $912,000 Position in Atkore Inc. (NYSE:ATKR)

Handelsbanken Fonder AB lowered its position in shares of Atkore Inc. (NYSE:ATKR) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,700 shares of the company’s stock after selling 1,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Atkore were worth $912,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ATKR. Boston Partners grew its holdings in Atkore by 149.7% during the third quarter. Boston Partners now owns 601,910 shares of the company’s stock valued at $88,670,000 after purchasing an additional 360,837 shares during the period. River Road Asset Management LLC lifted its stake in Atkore by 14.1% in the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock valued at $201,646,000 after buying an additional 155,508 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Atkore by 78.4% in the third quarter. Clearbridge Investments LLC now owns 278,691 shares of the company’s stock valued at $41,578,000 after buying an additional 122,516 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Atkore by 25.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 540,973 shares of the company’s stock valued at $80,708,000 after buying an additional 111,115 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Atkore by 13.8% in the third quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock valued at $122,084,000 after buying an additional 99,345 shares in the last quarter.

Atkore Stock Performance

Shares of ATKR stock opened at $182.99 on Monday. The company’s fifty day simple moving average is $173.49 and its 200-day simple moving average is $153.50. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. The firm has a market cap of $6.73 billion, a PE ratio of 10.97 and a beta of 2.19. Atkore Inc. has a 12 month low of $116.14 and a 12 month high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Thursday, February 1st. The company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $1.04. The business had revenue of $798.50 million for the quarter, compared to analyst estimates of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.51 earnings per share. Equities research analysts expect that Atkore Inc. will post 15.06 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Monday, February 26th. Atkore’s dividend payout ratio is presently 7.67%.

Insider Transactions at Atkore

In other Atkore news, Director Justin A. Kershaw sold 1,099 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $171.77, for a total transaction of $188,775.23. Following the sale, the director now directly owns 16,686 shares of the company’s stock, valued at $2,866,154.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atkore news, Director Justin A. Kershaw sold 1,099 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $171.77, for a total transaction of $188,775.23. Following the sale, the director now directly owns 16,686 shares of the company’s stock, valued at $2,866,154.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the sale, the vice president now directly owns 25,590 shares in the company, valued at $4,505,631.30. The disclosure for this sale can be found here. Insiders have sold a total of 148,464 shares of company stock valued at $25,124,751 over the last 90 days. 2.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ATKR. StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $187.00 price target on shares of Atkore in a research note on Friday, March 22nd. Finally, Citigroup lifted their price target on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

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.