Creative Planning Raises Position in Atkore Inc. $ATKR

Creative Planning lifted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,592 shares of the company’s stock after purchasing an additional 1,697 shares during the quarter. Creative Planning’s holdings in Atkore were worth $1,382,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC purchased a new position in Atkore during the second quarter worth about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Atkore during the 2nd quarter worth about $28,000. Strs Ohio purchased a new position in shares of Atkore during the 1st quarter worth about $36,000. New Age Alpha Advisors LLC acquired a new stake in shares of Atkore in the first quarter worth approximately $37,000. Finally, Jones Financial Companies Lllp grew its holdings in Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ATKR. Weiss Ratings upgraded shares of Atkore from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Citigroup cut their target price on Atkore from $66.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. KeyCorp reiterated a “sector weight” rating on shares of Atkore in a report on Friday, November 14th. Finally, Roth Capital dropped their price target on Atkore from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.00.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $64.75, for a total transaction of $64,750.00. Following the transaction, the insider directly owned 29,923 shares of the company’s stock, valued at approximately $1,937,514.25. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.99% of the company’s stock.

Atkore Stock Performance

NYSE:ATKR opened at $66.95 on Friday. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 21.46 and a beta of 2.12. The firm’s fifty day simple moving average is $65.02 and its 200 day simple moving average is $65.99. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $95.72.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.61). Atkore had a net margin of 3.89% and a return on equity of 16.16%. The company had revenue of $752.01 million during the quarter, compared to analyst estimates of $733.61 million. During the same quarter in the prior year, the company posted $2.43 earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts expect 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 will be paid on Wednesday, December 17th. Investors of record on Friday, December 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, December 5th. Atkore’s dividend payout ratio (DPR) is presently -253.85%.

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.