Edgestream Partners L.P. Decreases Stock Holdings in Atkore Inc. $ATKR

Edgestream Partners L.P. lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 50.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,815 shares of the company’s stock after selling 36,051 shares during the quarter. Edgestream Partners L.P.’s holdings in Atkore were worth $2,527,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ATKR. Bayforest Capital Ltd purchased a new stake in Atkore during the 2nd quarter valued at $1,083,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Atkore in the second quarter worth $298,000. Aviance Capital Partners LLC increased its position in Atkore by 26.7% during the second quarter. Aviance Capital Partners LLC now owns 20,098 shares of the company’s stock valued at $1,418,000 after acquiring an additional 4,231 shares during the last quarter. CWM LLC increased its position in Atkore by 14.2% during the second quarter. CWM LLC now owns 6,357 shares of the company’s stock valued at $448,000 after acquiring an additional 792 shares during the last quarter. Finally, Signal Advisors Wealth LLC bought a new position in Atkore in the second quarter valued at about $671,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ATKR. KeyCorp restated a “sector weight” rating on shares of Atkore in a research note on Friday, November 14th. Roth Capital cut their target price on shares of Atkore from $67.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Citigroup reduced their target price on shares of Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Finally, Weiss Ratings cut shares of Atkore from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.00.

Atkore Trading Down 2.4%

Shares of NYSE:ATKR opened at $64.72 on Friday. The stock has a 50 day moving average of $65.39 and a 200 day moving average of $65.88. The company has a market cap of $2.18 billion, a PE ratio of -124.46 and a beta of 1.57. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.54. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $94.20.

Atkore (NYSE:ATKR) last released its earnings results on Wednesday, November 19th. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.61). The firm had revenue of $752.01 million for the quarter, compared to the consensus estimate of $733.61 million. Atkore had a positive return on equity of 12.98% and a negative net margin of 0.53%.Atkore’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.43 EPS. As a group, equities research analysts expect that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The company 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 $0.33 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.32 annualized dividend and a yield of 2.0%. Atkore’s dividend payout ratio is currently -253.85%.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $64.75, for a total transaction of $64,750.00. Following the sale, the insider directly owned 29,923 shares of the company’s stock, valued at $1,937,514.25. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.99% of the company’s stock.

Atkore Profile

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.