E. Ohman J or Asset Management AB lifted its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,125 shares of the company's stock after buying an additional 7,256 shares during the quarter. E. Ohman J or Asset Management AB owned approximately 0.56% of Atkore worth $17,382,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ATKR. Opinicus Capital Inc. boosted its holdings in Atkore by 3.8% in the 1st quarter. Opinicus Capital Inc. now owns 3,263 shares of the company's stock worth $621,000 after buying an additional 118 shares during the last quarter. Cannon Global Investment Management LLC purchased a new position in Atkore in the 1st quarter valued at $647,000. Hedeker Wealth LLC acquired a new stake in Atkore during the 1st quarter worth $1,715,000. Van ECK Associates Corp grew its holdings in shares of Atkore by 36.5% during the first quarter. Van ECK Associates Corp now owns 15,816 shares of the company's stock worth $3,011,000 after buying an additional 4,230 shares in the last quarter. Finally, Centric Wealth Management lifted its stake in shares of Atkore by 4.7% in the first quarter. Centric Wealth Management now owns 25,515 shares of the company's stock worth $4,473,000 after buying an additional 1,134 shares in the last quarter.
In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now owns 28,086 shares of the company's stock, valued at $2,681,370.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.56% of the stock is currently owned by insiders.
A number of analysts have commented on the stock. B. Riley cut their price objective on shares of Atkore from $183.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Loop Capital reduced their price objective on Atkore from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada cut Atkore from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, KeyCorp reduced their price target on Atkore from $125.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $131.60.
View Our Latest Research Report on Atkore
ATKR stock opened at $85.97 on Friday. Atkore Inc. has a 52-week low of $80.11 and a 52-week high of $194.98. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 5.36 and a beta of 2.14. The business has a fifty day moving average of $88.29 and a two-hundred day moving average of $125.84.
Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.52 by $0.28. The firm had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.13 EPS. As a group, research analysts anticipate that Atkore Inc. will post 12.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a $0.32 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.49%. Atkore's dividend payout ratio (DPR) is presently 7.98%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Atkore, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atkore wasn't on the list.
While Atkore currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.