Atkore Inc. $ATKR Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Atkore Inc. (NYSE:ATKR) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,279 shares of the company’s stock after selling 5,991 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.30% of Atkore worth $7,625,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in shares of Atkore in the second quarter worth about $28,000. Kestra Investment Management LLC grew its position in shares of Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after acquiring an additional 391 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after purchasing an additional 480 shares in the last quarter. Strs Ohio purchased a new position in shares of Atkore in the 1st quarter valued at about $36,000. Finally, Jones Financial Companies Lllp raised its holdings in Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after purchasing an additional 246 shares during the period.

Insider Activity

In other news, insider Mark Lamps sold 300 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the sale, the insider owned 35,803 shares of the company’s stock, valued at $3,356,531.25. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. Roth Capital cut Atkore from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $85.00 to $92.00 in a research report on Tuesday, August 4th. Royal Bank Of Canada set a $76.00 target price on Atkore in a research note on Thursday, July 16th. Finally, Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $143.33.

Atkore Price Performance

NYSE:ATKR opened at $93.77 on Tuesday. The firm has a market cap of $3.17 billion, a P/E ratio of -19.49 and a beta of 1.68. The stock has a 50 day moving average of $83.58 and a two-hundred day moving average of $75.26. Atkore Inc. has a 12 month low of $53.75 and a 12 month high of $94.14. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.The firm had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same period in the previous year, the company posted $2.17 earnings per share. On average, analysts expect that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Atkore’s payout ratio is -27.44%.

Atkore Company Profile

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.