Atkore Inc. $ATKR Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Atkore Inc. (NYSE:ATKR) by 27.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 695,631 shares of the company’s stock after selling 266,121 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Atkore were worth $44,632,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dogwood Wealth Management LLC acquired a new position in shares of Atkore in the second quarter worth about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Atkore in the 2nd quarter valued at about $28,000. Kestra Investment Management LLC raised its holdings in Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after purchasing an additional 391 shares during the period. Strs Ohio purchased a new position in Atkore during the first quarter worth approximately $36,000. 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.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $64.75, for a total value of $64,750.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Atkore Stock Down 1.0%

Shares of ATKR opened at $63.15 on Friday. The stock has a 50 day moving average price of $65.40 and a 200 day moving average price of $65.50. Atkore Inc. has a one year low of $49.92 and a one year high of $89.46. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.13 and a current ratio of 3.05. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -121.44 and a beta of 1.58.

Atkore (NYSE:ATKR) last announced its 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 positive return on equity of 12.98% and a negative net margin of 0.53%.The business had revenue of $752.01 million for the quarter, compared to analyst estimates of $733.61 million. During the same period last year, the firm earned $2.43 EPS. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Friday, December 5th were given a $0.33 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.1%. Atkore’s dividend payout ratio is -253.85%.

Wall Street Analysts Forecast Growth

ATKR has been the subject of a number of recent analyst reports. KeyCorp restated a “sector weight” rating on shares of Atkore in a research report on Friday, November 14th. CJS Securities raised shares of Atkore to a “strong-buy” rating in a report on Thursday, December 11th. Roth Capital upped their price objective on shares of Atkore from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a report on Monday. Finally, Citigroup dropped their target price on shares of Atkore from $66.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $70.00.

Atkore Company Profile

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.