DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Decreases Stake in Atkore Inc. (NYSE:ATKR)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its holdings in shares of Atkore Inc. (NYSE:ATKR) by 71.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,229 shares of the company’s stock after selling 25,922 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Atkore were worth $854,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ATKR. Lakewood Asset Management LLC lifted its holdings in shares of Atkore by 1.4% in the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after purchasing an additional 126 shares during the last quarter. Van Den Berg Management I Inc. increased its position in Atkore by 0.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company’s stock worth $3,425,000 after buying an additional 158 shares during the period. Isthmus Partners LLC lifted its stake in Atkore by 0.8% in the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock valued at $1,789,000 after buying an additional 162 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Atkore by 6.9% during the fourth quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after acquiring an additional 166 shares during the period. Finally, Willis Investment Counsel grew its position in shares of Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock worth $446,000 after acquiring an additional 171 shares during the last quarter.

Insider Transactions at Atkore

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

Analyst Ratings Changes

Several analysts recently weighed in on ATKR shares. KeyCorp lifted their price objective 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. Citigroup decreased their price objective on Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Roth Capital set a $78.00 target price on Atkore and gave the company a “buy” rating in a research note on Wednesday. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and reduced their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, Royal Bank of Canada increased their price target on Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Atkore currently has an average rating of “Hold” and a consensus target price of $77.57.

Atkore Stock Performance

ATKR opened at $67.95 on Monday. The business has a 50 day moving average price of $61.77 and a two-hundred day moving average price of $75.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6.58 and a beta of 2.10. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $159.30.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.52. The business had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.08 earnings per share. Research analysts predict that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.94%. This is a boost from Atkore’s previous quarterly dividend of $0.32. Atkore’s payout ratio is currently 25.38%.

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.