UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Atkore Inc. $ATKR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Atkore Inc. (NYSE:ATKR) by 5.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 100,279 shares of the company’s stock after selling 5,991 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Atkore were worth $7,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ATKR. Global Retirement Partners LLC acquired a new position in Atkore during the second quarter worth $28,000. Kestra Investment Management LLC increased its stake in shares of Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after acquiring an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after acquiring an additional 480 shares during the last quarter. Strs Ohio purchased a new position in shares of Atkore during the 1st quarter worth $36,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares during the period.

Insiders Place Their Bets

In other Atkore news, insider Mark Lamps sold 300 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the sale, the insider directly owned 35,803 shares in the company, valued at $3,356,531.25. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ATKR. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Royal Bank Of Canada set a $76.00 target price on shares of Atkore in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Finally, Roth Capital lowered shares of Atkore from a “buy” rating to a “neutral” rating and boosted their target price for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $143.33.

Atkore Stock Up 0.0%

NYSE:ATKR opened at $93.77 on Tuesday. Atkore Inc. has a 52 week low of $53.75 and a 52 week high of $94.14. The stock’s fifty day moving average is $83.58 and its two-hundred day moving average is $75.26. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -19.49 and a beta of 1.68. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.39. The business had revenue of $794.80 million during the quarter, compared to analysts’ expectations of $756.23 million. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.During the same period in the previous year, the firm posted $2.17 earnings per share. Research analysts anticipate that Atkore Inc. will post 5.15 EPS for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Atkore’s payout ratio is currently -27.44%.

About Atkore

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.