Riverwater Partners LLC Sells 854 Shares of Atkore Inc. (NYSE:ATKR)

Riverwater Partners LLC cut its position in shares of Atkore Inc. (NYSE:ATKR) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,456 shares of the company’s stock after selling 854 shares during the period. Riverwater Partners LLC’s holdings in Atkore were worth $1,124,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ATKR. Boston Partners lifted its position in shares of Atkore by 12.0% during the 1st quarter. Boston Partners now owns 1,340,146 shares of the company’s stock worth $254,733,000 after buying an additional 143,121 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Atkore by 26.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after purchasing an additional 261,234 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Atkore by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after purchasing an additional 144,283 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Atkore by 48.4% during the 1st quarter. Clearbridge Investments LLC now owns 514,908 shares of the company’s stock worth $98,018,000 after purchasing an additional 168,042 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Atkore by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after purchasing an additional 4,852 shares during the last quarter.

Atkore Stock Down 1.3 %

NYSE ATKR opened at $85.67 on Thursday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 5.34 and a beta of 2.14. Atkore Inc. has a 52 week low of $80.11 and a 52 week high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The stock has a fifty day moving average of $88.45 and a 200-day moving average of $126.12.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same period last year, the company earned $5.13 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. On average, equities research analysts forecast that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a $0.32 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.49%. Atkore’s dividend payout ratio is currently 7.98%.

Analysts Set New Price Targets

Several analysts have weighed in on ATKR shares. Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. B. Riley cut their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Loop Capital reduced their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, KeyCorp cut their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.60.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now owns 28,086 shares of the company’s stock, valued at $2,681,370.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.