O Shaughnessy Asset Management LLC Sells 357 Shares of Atkore Inc. (NYSE:ATKR)

O Shaughnessy Asset Management LLC cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,245 shares of the company’s stock after selling 357 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Atkore were worth $4,425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Jade Capital Advisors LLC bought a new stake in Atkore during the first quarter valued at about $4,759,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Atkore by 8.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,173 shares of the company’s stock valued at $2,744,000 after acquiring an additional 1,137 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Atkore by 4.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,808 shares of the company’s stock valued at $2,248,000 after acquiring an additional 500 shares during the period. ProShare Advisors LLC increased its holdings in shares of Atkore by 6.7% in the first quarter. ProShare Advisors LLC now owns 6,695 shares of the company’s stock worth $1,274,000 after purchasing an additional 418 shares during the last quarter. Finally, Isthmus Partners LLC increased its holdings in shares of Atkore by 38.0% in the first quarter. Isthmus Partners LLC now owns 23,451 shares of the company’s stock worth $4,464,000 after purchasing an additional 6,462 shares during the last quarter.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the sale, the insider now directly owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the completion of the transaction, the insider now owns 28,586 shares in the company, valued at $4,507,154.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ATKR has been the topic of several research reports. StockNews.com cut Atkore from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Citigroup reduced their target price on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, KeyCorp initiated coverage on Atkore in a report on Wednesday, July 10th. They issued an “overweight” rating and a $175.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Atkore presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Atkore Trading Up 0.2 %

NYSE ATKR traded up $0.34 during trading hours on Tuesday, hitting $144.91. 376,151 shares of the company were exchanged, compared to its average volume of 512,809. The stock has a 50-day moving average price of $142.65 and a 200 day moving average price of $157.18. The company has a quick ratio of 1.98, a current ratio of 3.09 and a debt-to-equity ratio of 0.49. Atkore Inc. has a 52 week low of $121.00 and a 52 week high of $194.98. The stock has a market cap of $5.28 billion, a PE ratio of 9.02 and a beta of 2.15.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The company had revenue of $792.90 million for the quarter, compared to analysts’ expectations of $808.22 million. During the same period in the previous year, the firm posted $4.31 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. Analysts forecast that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.28 annualized dividend and a yield of 0.88%. Atkore’s payout ratio is currently 7.98%.

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.