Federated Hermes Inc. Sells 52,258 Shares of Atkore Inc. (NYSE:ATKR)

Federated Hermes Inc. lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 385,886 shares of the company’s stock after selling 52,258 shares during the quarter. Federated Hermes Inc. owned approximately 1.04% of Atkore worth $61,742,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ATKR. Norges Bank purchased a new stake in shares of Atkore during the fourth quarter valued at approximately $59,906,000. Capital Research Global Investors purchased a new stake in shares of Atkore during the first quarter valued at approximately $42,940,000. Boston Partners boosted its stake in shares of Atkore by 149.7% during the third quarter. Boston Partners now owns 601,910 shares of the company’s stock valued at $88,670,000 after purchasing an additional 360,837 shares during the period. Balyasny Asset Management LLC boosted its holdings in Atkore by 987.0% in the third quarter. Balyasny Asset Management LLC now owns 172,986 shares of the company’s stock valued at $13,460,000 after acquiring an additional 157,072 shares in the last quarter. Finally, River Road Asset Management LLC boosted its holdings in Atkore by 14.1% in the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock valued at $201,646,000 after acquiring an additional 155,508 shares in the last quarter.

Insider Transactions at Atkore

In other news, VP Leangela W. Lowe sold 6,500 shares of Atkore stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the transaction, the vice president now owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Daniel S. Kelly sold 8,685 shares of Atkore stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the transaction, the vice president now owns 34,907 shares of the company’s stock, valued at approximately $6,041,354.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the transaction, the vice president now directly owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock valued at $25,124,751 in the last quarter. 2.56% of the stock is owned by insiders.

Atkore Stock Performance

Shares of ATKR stock opened at $171.71 on Friday. Atkore Inc. has a 12 month low of $116.14 and a 12 month high of $194.98. The stock has a market cap of $6.31 billion, a PE ratio of 10.29 and a beta of 2.19. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average price is $170.17 and its 200-day moving average price is $152.17.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $1.04. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The firm had revenue of $798.50 million for the quarter, compared to analysts’ expectations of $777.05 million. During the same quarter in the previous year, the business posted $4.51 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts expect that Atkore Inc. will post 15.06 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Monday, February 26th. Atkore’s dividend payout ratio is presently 7.67%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup lifted their price target on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 price target on shares of Atkore in a report on Friday, March 22nd. Finally, StockNews.com upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th.

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.