Point72 Asia Singapore Pte. Ltd. Trims Position in Atkore Inc. (NYSE:ATKR)

Point72 Asia Singapore Pte. Ltd. lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 11.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,502 shares of the company’s stock after selling 199 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Atkore were worth $125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ATKR. Barclays PLC raised its holdings in shares of Atkore by 50.2% during the 3rd quarter. Barclays PLC now owns 70,736 shares of the company’s stock worth $5,994,000 after acquiring an additional 23,628 shares during the period. Exchange Traded Concepts LLC raised its holdings in Atkore by 2,642.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,947 shares of the company’s stock valued at $2,499,000 after buying an additional 28,855 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in Atkore by 16.7% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 3,799 shares of the company’s stock valued at $317,000 after buying an additional 544 shares during the period. KBC Group NV raised its holdings in Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after buying an additional 469 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares during the period.

Atkore Stock Down 0.9%

Shares of NYSE:ATKR opened at $68.82 on Friday. 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 firm has a market capitalization of $2.32 billion, a PE ratio of 6.66 and a beta of 2.10. The firm’s 50-day moving average is $62.33 and its two-hundred day moving average is $74.72. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $157.25.

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

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from Atkore’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 16th. Atkore’s dividend payout ratio is presently 25.38%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the sale, the insider now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

ATKR has been the topic of several research analyst reports. StockNews.com upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and reduced their price objective for the company from $115.00 to $65.00 in a report on Monday, February 10th. Roth Capital set a $78.00 price objective on shares of Atkore and gave the company a “buy” rating in a report on Wednesday, May 7th. Citigroup reduced their price objective on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.57.

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.