Bailard Inc. Cuts Stock Position in Atkore Inc. (NYSE:ATKR)

Bailard Inc. lowered its position in Atkore Inc. (NYSE:ATKR) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,300 shares of the company’s stock after selling 300 shares during the period. Bailard Inc.’s holdings in Atkore were worth $688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Atkore in the 4th quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in Atkore during the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC purchased a new stake in Atkore during the 4th quarter worth approximately $32,000. NBC Securities Inc. purchased a new stake in Atkore during the 3rd quarter worth approximately $54,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Atkore during the 4th quarter worth approximately $72,000.

Insiders Place Their Bets

In other Atkore news, VP Daniel S. Kelly sold 8,685 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the completion of the transaction, the vice president now directly owns 34,907 shares in the company, valued at $6,041,354.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atkore news, VP Daniel S. Kelly sold 8,685 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the completion of the transaction, the vice president now directly owns 34,907 shares in the company, valued at $6,041,354.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel S. Kelly sold 15,815 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $173.59, for a total transaction of $2,745,325.85. Following the transaction, the vice president now owns 34,907 shares of the company’s stock, valued at $6,059,506.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,464 shares of company stock worth $25,124,751. Company insiders own 2.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ATKR shares. Citigroup boosted their target price on shares of Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. Finally, StockNews.com raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th.

Atkore Stock Up 1.0 %

ATKR stock opened at $183.04 on Friday. The firm’s fifty day simple moving average is $173.49 and its 200-day simple moving average is $153.41. The company has a market capitalization of $6.73 billion, a P/E ratio of 10.97 and a beta of 2.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. Atkore Inc. has a 12 month low of $116.14 and a 12 month high of $194.98.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, February 1st. The company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.08 by $1.04. The business had revenue of $798.50 million for the quarter, compared to the consensus estimate of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.51 EPS. As a group, equities research analysts forecast that Atkore Inc. will post 15.06 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Monday, February 26th. Atkore’s dividend payout ratio is currently 7.67%.

Atkore 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.