Aviva PLC Cuts Stock Holdings in Atkore Inc. (NYSE:ATKR)

Aviva PLC lowered its position in Atkore Inc. (NYSE:ATKR) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,870 shares of the company’s stock after selling 382 shares during the period. Aviva PLC’s holdings in Atkore were worth $573,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. E. Ohman J or Asset Management AB grew its position in Atkore by 55.2% in the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after purchasing an additional 113,263 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Atkore in the 3rd quarter worth approximately $7,916,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after acquiring an additional 134,517 shares in the last quarter. Barclays PLC increased its position in shares of Atkore by 50.2% during the third quarter. Barclays PLC now owns 70,736 shares of the company’s stock valued at $5,994,000 after acquiring an additional 23,628 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in Atkore by 38.7% during the third quarter. Tidal Investments LLC now owns 23,744 shares of the company’s stock worth $2,012,000 after acquiring an additional 6,628 shares during the period.

Atkore Trading Down 4.7 %

Shares of Atkore stock opened at $56.72 on Friday. The stock has a market capitalization of $1.97 billion, a P/E ratio of 5.49 and a beta of 2.02. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $185.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The stock’s 50-day simple moving average is $63.28 and its 200 day simple moving average is $78.68.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.12 earnings per share. As a group, research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Tuesday, February 18th. Atkore’s payout ratio is currently 12.39%.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on ATKR shares. Roth Mkm began coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, KeyCorp dropped their target price on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.50.

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.