Atkore Inc. $ATKR Shares Sold by Denali Advisors LLC

Denali Advisors LLC lessened its stake in shares of Atkore Inc. (NYSE:ATKR) by 22.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,900 shares of the company’s stock after selling 12,100 shares during the quarter. Denali Advisors LLC’s holdings in Atkore were worth $3,262,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Atkore during the 2nd quarter worth $28,000. Kestra Investment Management LLC boosted its holdings in shares of Atkore by 710.9% in the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after acquiring an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Atkore by 1,263.2% during the third 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 period. Strs Ohio acquired a new position in shares of Atkore during the first quarter worth about $36,000. Finally, Jones Financial Companies Lllp raised its holdings in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter.

Insider Activity

In other news, insider Mark F. Lamps sold 300 shares of Atkore stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the sale, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research report on Thursday, July 16th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Weiss Ratings raised Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Citigroup raised their price target on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Roth Capital downgraded Atkore from a “buy” rating to a “neutral” rating and lifted their price target for the company from $85.00 to $92.00 in a research note on Tuesday, August 4th. One equities 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $143.33.

Atkore Stock Performance

Shares of ATKR opened at $93.49 on Thursday. The company has a 50-day simple moving average of $79.74 and a 200-day simple moving average of $72.88. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $3.16 billion, a PE ratio of -19.44 and a beta of 1.68. Atkore Inc. has a 52-week low of $53.75 and a 52-week high of $94.14.

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

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore’s dividend payout ratio (DPR) is presently -27.44%.

Atkore Company Profile

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.