Victory Capital Management Inc. Has $46.26 Million Holdings in Atkore Inc. (NYSE:ATKR)

Victory Capital Management Inc. cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 27.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 289,129 shares of the company’s stock after selling 108,582 shares during the quarter. Victory Capital Management Inc. owned 0.79% of Atkore worth $46,261,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ATKR. GAMMA Investing LLC acquired a new stake in shares of Atkore during the 4th quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in shares of Atkore during the 3rd quarter valued at about $30,000. Anchor Investment Management LLC acquired a new stake in shares of Atkore during the 4th quarter valued at about $32,000. NBC Securities Inc. acquired a new stake in shares of Atkore during the 3rd quarter valued at about $54,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Atkore during the 4th quarter valued at about $72,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ATKR shares. StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Citigroup raised their price objective on Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 price objective on shares of Atkore in a research note on Friday, March 22nd.

Atkore Stock Up 0.6 %

Shares of ATKR stock opened at $176.25 on Monday. The stock’s 50 day simple moving average is $176.60 and its 200 day simple moving average is $154.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96. Atkore Inc. has a twelve month low of $116.14 and a twelve month high of $194.98. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 10.57 and a beta of 2.19.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, topping the consensus estimate of $3.08 by $1.04. The company had revenue of $798.50 million for the quarter, compared to the consensus estimate of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.51 EPS. As a group, research analysts predict that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Monday, May 20th. Atkore’s dividend payout ratio is currently 7.67%.

Insiders Place Their Bets

In other Atkore news, insider John W. Pregenzer sold 6,548 shares of Atkore stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $158.49, for a total value of $1,037,792.52. Following the transaction, the insider now directly owns 30,430 shares of the company’s stock, valued at approximately $4,822,850.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider John W. Pregenzer sold 6,548 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the sale, the insider now directly owns 30,430 shares in the company, valued at $4,822,850.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William E. Jr. Waltz sold 43,072 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $160.48, for a total value of $6,912,194.56. Following the sale, the chief executive officer now owns 83,716 shares in the company, valued at $13,434,743.68. The disclosure for this sale can be found here. Insiders have sold a total of 148,464 shares of company stock valued at $25,124,751 in the last three months. Company insiders own 2.56% of the company’s stock.

About Atkore

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.