Vest Financial LLC Reduces Holdings in Atkore Inc. $ATKR

Vest Financial LLC reduced its holdings in shares of Atkore Inc. (NYSE:ATKR) by 38.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,098 shares of the company’s stock after selling 8,666 shares during the period. Vest Financial LLC’s holdings in Atkore were worth $885,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ATKR. Dogwood Wealth Management LLC bought a new stake in shares of Atkore during the 2nd quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Atkore during the second quarter valued at $28,000. Kestra Investment Management LLC increased its position in Atkore by 710.9% in the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after buying an additional 391 shares in the last quarter. Strs Ohio bought a new position in shares of Atkore in the first quarter worth about $36,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after buying an additional 246 shares in the last quarter.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $64.75, for a total transaction of $64,750.00. Following the sale, the insider directly owned 29,923 shares in the company, valued at approximately $1,937,514.25. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Atkore Trading Down 1.6%

Atkore stock opened at $72.32 on Friday. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $88.09. The firm’s 50 day moving average price is $66.06 and its 200-day moving average price is $65.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.05 and a quick ratio of 2.13. The stock has a market cap of $2.44 billion, a P/E ratio of -139.08 and a beta of 1.58.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Wednesday, November 19th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.61). Atkore had a positive return on equity of 12.98% and a negative net margin of 0.53%.The firm had revenue of $752.01 million for the quarter, compared to analysts’ expectations of $733.61 million. During the same period last year, the company earned $2.43 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. On average, equities analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Friday, December 5th were issued a $0.33 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.8%. Atkore’s payout ratio is -253.85%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ATKR shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $64.00 target price on shares of Atkore in a report on Thursday, January 15th. CJS Securities upgraded shares of Atkore to a “strong-buy” rating in a research report on Thursday, December 11th. Citigroup reduced their price objective on shares of Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Roth Mkm raised their price objective on shares of Atkore from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Atkore in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $68.80.

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.