Wedge Capital Management L L P NC Increases Holdings in Atkore Inc. (NYSE:ATKR)

Wedge Capital Management L L P NC raised its stake in Atkore Inc. (NYSE:ATKR) by 53.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,117 shares of the company’s stock after acquiring an additional 55,841 shares during the period. Wedge Capital Management L L P NC’s holdings in Atkore were worth $13,568,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hodges Capital Management Inc. purchased a new stake in Atkore during the 2nd quarter valued at about $4,158,000. Capital World Investors bought a new stake in shares of Atkore during the first quarter valued at approximately $14,986,000. Sei Investments Co. raised its holdings in Atkore by 44.3% in the 1st quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock worth $12,547,000 after acquiring an additional 20,244 shares during the last quarter. Boston Trust Walden Corp purchased a new position in Atkore in the 2nd quarter worth approximately $23,306,000. Finally, Maverick Capital Ltd. lifted its position in 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 acquiring an additional 7,715 shares in the last quarter.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.56% of the company’s stock.

Atkore Trading Down 0.4 %

NYSE:ATKR opened at $86.86 on Tuesday. The business has a fifty day moving average price of $89.58 and a 200-day moving average price of $130.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. Atkore Inc. has a one year low of $80.11 and a one year high of $194.98. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 5.42 and a beta of 2.14.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The firm had revenue of $822.40 million for the quarter, compared to analysts’ expectations of $830.16 million. During the same quarter last year, the business posted $5.13 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. Atkore’s payout ratio is 7.98%.

Wall Street Analysts Forecast Growth

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

Atkore Company 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.