Ausbil Investment Management Ltd Has $325,000 Stock Position in Atkore Inc. (NYSE:ATKR)

Ausbil Investment Management Ltd cut its holdings in Atkore Inc. (NYSE:ATKR) by 81.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,841 shares of the company’s stock after selling 16,610 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Atkore were worth $325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hodges Capital Management Inc. bought a new stake in shares of Atkore during the second quarter valued at approximately $4,158,000. Capital World Investors acquired a new position in shares of Atkore during the first quarter valued at about $14,986,000. Sei Investments Co. increased its position in shares of Atkore by 44.3% during the first quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock worth $12,547,000 after acquiring an additional 20,244 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in shares of Atkore in the 2nd quarter worth about $23,306,000. Finally, Maverick Capital Ltd. lifted its position in Atkore by 386.9% in the 2nd quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock valued at $1,310,000 after acquiring an additional 7,715 shares in the last quarter.

Analyst Upgrades and Downgrades

ATKR has been the subject of several analyst reports. Loop Capital lowered their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. B. Riley cut their price objective on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, KeyCorp lowered their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Atkore has an average rating of “Moderate Buy” and an average price target of $131.60.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.56% of the company’s stock.

Atkore Stock Performance

Shares of NYSE ATKR traded down $0.42 during trading on Thursday, reaching $85.29. 61,974 shares of the stock traded hands, compared to its average volume of 614,247. The company has a 50-day moving average of $88.45 and a 200-day moving average of $126.12. Atkore Inc. has a 52-week low of $80.11 and a 52-week high of $194.98. The stock has a market capitalization of $3.11 billion, a P/E ratio of 5.34 and a beta of 2.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.28. The firm had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $5.13 earnings per share. Analysts forecast that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.50%. Atkore’s payout ratio is presently 7.98%.

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.