Atkore Inc. $ATKR Shares Sold by Gendell Jeffrey L

Gendell Jeffrey L decreased its position in shares of Atkore Inc. (NYSE:ATKR) by 24.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,105 shares of the company’s stock after selling 49,395 shares during the period. Atkore comprises 0.3% of Gendell Jeffrey L’s investment portfolio, making the stock its 15th biggest position. Gendell Jeffrey L owned approximately 0.45% of Atkore worth $10,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in Atkore during the first quarter worth about $201,000. Deutsche Bank AG boosted its stake in shares of Atkore by 65.1% in the first quarter. Deutsche Bank AG now owns 204,215 shares of the company’s stock valued at $12,251,000 after purchasing an additional 80,487 shares during the period. Nuveen LLC acquired a new position in shares of Atkore in the first quarter valued at approximately $11,502,000. American Century Companies Inc. increased its stake in Atkore by 7.2% during the 1st quarter. American Century Companies Inc. now owns 840,505 shares of the company’s stock worth $50,422,000 after buying an additional 56,692 shares during the period. Finally, CacheTech Inc. increased its stake in Atkore by 44.4% during the 1st quarter. CacheTech Inc. now owns 43,765 shares of the company’s stock worth $2,625,000 after buying an additional 13,463 shares during the period.

Atkore Price Performance

Atkore stock opened at $64.63 on Friday. The stock has a market cap of $2.18 billion, a P/E ratio of -124.29 and a beta of 1.57. The company has a fifty day simple moving average of $65.60 and a 200-day simple moving average of $65.79. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $89.46. 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 (NYSE:ATKR) last posted its earnings results on Wednesday, November 19th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.61). The business had revenue of $752.01 million during the quarter, compared to analysts’ expectations of $733.61 million. Atkore had a negative net margin of 0.53% and a positive return on equity of 12.98%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company earned $2.43 EPS. Equities analysts expect that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, December 5th will be given 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 of this dividend is Friday, December 5th. Atkore’s dividend payout ratio (DPR) is -253.85%.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 1,000 shares of the company’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 value of $64,750.00. Following the completion of the transaction, the insider directly owned 29,923 shares of the company’s stock, valued at $1,937,514.25. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ATKR has been the subject of several recent research reports. Citigroup decreased their price target on shares of Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Roth Capital decreased their target price on Atkore from $67.00 to $65.00 and set a “buy” rating for the company in a report on Friday, November 21st. KeyCorp reissued a “sector weight” rating on shares of Atkore in a research note on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a research report on Monday. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Atkore presently has a consensus rating of “Hold” and an average target price of $74.00.

Atkore Company 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.