Stansberry Asset Management LLC Has $1.60 Million Stock Holdings in Atkore Inc. (NYSE:ATKR)

Stansberry Asset Management LLC cut its holdings in Atkore Inc. (NYSE:ATKR) by 50.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,933 shares of the company’s stock after selling 19,661 shares during the quarter. Stansberry Asset Management LLC owned about 0.05% of Atkore worth $1,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after buying an additional 401 shares during the last quarter. Quarry LP increased its position in Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after acquiring an additional 208 shares during the period. Mather Group LLC. increased its position in Atkore by 895.7% during the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after acquiring an additional 421 shares during the period. Covestor Ltd increased its position in Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after acquiring an additional 390 shares during the period. Finally, Headlands Technologies LLC increased its position in Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATKR. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Loop Capital lowered their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a research report on Wednesday. Finally, KeyCorp cut their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $118.80.

Atkore Trading Down 0.2 %

Shares of ATKR opened at $93.65 on Thursday. The stock has a fifty day moving average price of $89.04 and a two-hundred day moving average price of $109.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. Atkore Inc. has a 52-week low of $76.01 and a 52-week high of $194.98. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 7.41 and a beta of 2.10.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). The business had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 EPS. Analysts predict that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.37%. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

Insider Buying and Selling

In other news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the sale, the director now directly owns 25,585 shares in the company, valued at $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock valued at $1,614,975 over the last three months. Company insiders own 2.56% of the company’s stock.

About Atkore

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.