Wedge Capital Management L L P NC Sells 6,982 Shares of Atkore Inc. (NYSE:ATKR)

Wedge Capital Management L L P NC lessened its position in shares of Atkore Inc. (NYSE:ATKR) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 153,135 shares of the company’s stock after selling 6,982 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.44% of Atkore worth $12,779,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ATKR. Maverick Capital Ltd. lifted its stake in shares of Atkore by 386.9% in the 2nd quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock valued at $1,310,000 after purchasing an additional 7,715 shares during the period. Wellington Management Group LLP acquired a new position in shares of Atkore during the third quarter valued at about $7,916,000. Chase Investment Counsel Corp boosted its position in shares of Atkore by 97.0% during the 3rd quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock worth $1,101,000 after purchasing an additional 6,400 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Atkore by 729.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock valued at $2,358,000 after buying an additional 24,476 shares during the period. Finally, M&G PLC bought a new stake in Atkore in the 3rd quarter valued at about $9,123,000.

Analyst Ratings Changes

Several research analysts have issued reports on ATKR shares. Loop Capital cut their price target on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Mkm started coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Finally, Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

Atkore Price Performance

Shares of NYSE:ATKR opened at $85.14 on Friday. The company’s 50-day moving average is $87.14 and its 200 day moving average is $96.87. 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 fifty-two week low of $76.01 and a fifty-two week high of $194.98. The company has a market capitalization of $2.96 billion, a P/E ratio of 6.74 and a beta of 2.13.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share 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 analysts’ expectations of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 EPS. On average, equities research analysts forecast that Atkore Inc. will post 6.62 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.50%. Atkore’s dividend payout ratio (DPR) is currently 10.13%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares of the company’s stock, valued at $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now owns 25,585 shares in the company, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock worth $1,614,975 in the last three months. 1.99% of the stock is currently owned by corporate insiders.

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.