Atkore Inc. (NYSE:ATKR) Shares Sold by Comerica Bank

Comerica Bank cut its stake in shares of Atkore Inc. (NYSE:ATKR) by 6.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 16,301 shares of the company’s stock after selling 1,167 shares during the period. Comerica Bank’s holdings in Atkore were worth $1,360,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after acquiring an additional 186 shares during the period. Pacer Advisors Inc. raised its position in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after acquiring an additional 195 shares during the period. Harbour Investments Inc. raised its position in Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the period. KBC Group NV raised its position in Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares during the period. Finally, Covestor Ltd raised its position in Atkore by 88.5% during the fourth quarter. Covestor Ltd now owns 1,889 shares of the company’s stock worth $157,000 after acquiring an additional 887 shares during the period.

Atkore Price Performance

Atkore stock opened at $67.95 on Monday. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $159.30. The stock has a market cap of $2.36 billion, a P/E ratio of 6.58 and a beta of 2.10. The company has a 50-day moving average price of $61.77 and a 200 day moving average price of $75.23. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm had revenue of $701.73 million during the quarter, compared to analysts’ expectations of $690.83 million. During the same period last year, the business earned $4.08 earnings per share. Atkore’s revenue was down 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be given a dividend of $0.33 per share. This is a boost from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, May 16th. Atkore’s dividend payout ratio (DPR) is presently 25.38%.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of research analyst reports. Roth Capital set a $78.00 price objective on shares of Atkore and gave the stock a “buy” rating in a research report on Wednesday. Citigroup reduced their target price on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada increased their target price on shares of Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, KeyCorp increased their target price on shares of Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.57.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the transaction, the insider now owns 32,828 shares of the company’s stock, valued at $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.99% of the stock is owned by company insiders.

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.