Atkore Inc. (NYSE:ATKR) Holdings Reduced by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its holdings in shares of Atkore Inc. (NYSE:ATKR) by 55.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,670 shares of the company’s stock after selling 66,193 shares during the period. BNP Paribas Financial Markets owned 0.15% of Atkore worth $4,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp raised its position in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after buying an additional 186 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after purchasing an additional 195 shares in the last quarter. Harbour Investments Inc. raised its holdings in Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. KBC Group NV lifted its position in Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after purchasing an additional 469 shares during the period. Finally, Covestor Ltd boosted its stake in Atkore by 88.5% during the 4th quarter. Covestor Ltd now owns 1,889 shares of the company’s stock valued at $157,000 after purchasing an additional 887 shares in the last quarter.

Atkore Trading Down 0.0%

Atkore stock opened at $70.23 on Wednesday. Atkore Inc. has a one year low of $49.92 and a one year high of $158.90. The company’s fifty day moving average price is $62.04 and its two-hundred day moving average price is $75.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6.80 and a beta of 2.10.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm had revenue of $701.73 million for the quarter, compared to the consensus estimate of $690.83 million. During the same quarter last year, the firm posted $4.08 EPS. The business’s quarterly revenue was down 11.5% on a year-over-year basis. On average, analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be given a $0.33 dividend. This is an increase from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Friday, May 16th. Atkore’s payout ratio is currently 25.38%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ATKR shares. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and dropped their target price for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Citigroup reduced their price objective on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Roth Capital set a $78.00 target price on shares of Atkore and gave the stock a “buy” rating in a research report on Wednesday, May 7th. StockNews.com upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Monday. Finally, KeyCorp raised their price objective on shares of Atkore from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.57.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $69.16, for a total value of $69,160.00. Following the sale, the insider now owns 32,828 shares in the company, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.99% 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.