Atkore Inc. (NYSE:ATKR) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P cut its stake in Atkore Inc. (NYSE:ATKR) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,187 shares of the company’s stock after selling 5,828 shares during the period. Loomis Sayles & Co. L P owned 0.21% of Atkore worth $6,107,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ATKR. Citigroup Inc. raised its holdings in shares of Atkore by 56.8% during the third quarter. Citigroup Inc. now owns 47,241 shares of the company’s stock valued at $4,003,000 after buying an additional 17,106 shares during the last quarter. BNP Paribas Financial Markets increased its position in Atkore by 145.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 119,863 shares of the company’s stock valued at $10,157,000 after acquiring an additional 70,955 shares during the period. Townsquare Capital LLC raised its stake in Atkore by 11.0% during the 3rd quarter. Townsquare Capital LLC now owns 2,733 shares of the company’s stock valued at $232,000 after acquiring an additional 271 shares in the last quarter. Bridgewater Associates LP boosted its position in Atkore by 1,590.6% during the 3rd quarter. Bridgewater Associates LP now owns 50,362 shares of the company’s stock worth $4,268,000 after acquiring an additional 47,383 shares during the period. Finally, Glenmede Trust Co. NA grew its stake in shares of Atkore by 6.0% in the third quarter. Glenmede Trust Co. NA now owns 4,523 shares of the company’s stock worth $383,000 after purchasing an additional 256 shares in the last quarter.

Analyst Upgrades and Downgrades

ATKR has been the topic of a number of recent analyst reports. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. KeyCorp dropped their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the company from $115.00 to $65.00 in a report on Monday, February 10th. Roth Mkm initiated coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Atkore has an average rating of “Moderate Buy” and a consensus price target of $103.17.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.99% of the company’s stock.

Atkore Trading Down 2.9 %

Shares of NYSE:ATKR opened at $60.54 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 5.86 and a beta of 2.22. Atkore Inc. has a 1-year low of $55.91 and a 1-year high of $194.98. The company has a 50 day moving average price of $69.23 and a 200 day moving average price of $80.89.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company’s revenue was down 17.1% compared to the same quarter last year. During the same period last year, the company posted $4.12 EPS. On average, research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio is presently 12.39%.

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.