Measured Wealth Private Client Group LLC Trims Position in Atkore Inc. (NYSE:ATKR)

Measured Wealth Private Client Group LLC trimmed its stake in Atkore Inc. (NYSE:ATKR) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,119 shares of the company’s stock after selling 621 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Atkore were worth $784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new position in Atkore during the 4th quarter valued at about $25,000. GAMMA Investing LLC purchased a new stake in Atkore during the fourth quarter worth $26,000. Orion Capital Management LLC bought a new stake in Atkore during the 3rd quarter valued at $30,000. Anchor Investment Management LLC purchased a new position in shares of Atkore in the 4th quarter valued at $32,000. Finally, Montag A & Associates Inc. bought a new position in shares of Atkore in the 4th quarter worth $58,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ATKR shares. Citigroup reduced their target price on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Royal Bank of Canada restated an “outperform” rating and issued a $187.00 target price on shares of Atkore in a research note on Friday, March 22nd. Finally, StockNews.com downgraded Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were 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 directly owns 28,586 shares in the company, valued at $4,507,154.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 15,695 shares in the company, valued at approximately $2,404,944.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction 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 in the company, valued at $4,507,154.62. The disclosure for this sale can be found here. 2.56% of the stock is owned by corporate insiders.

Atkore Stock Performance

NYSE:ATKR traded down $1.33 during trading hours on Tuesday, hitting $131.00. 308,973 shares of the company were exchanged, compared to its average volume of 518,770. The company’s 50 day moving average price is $151.35 and its 200-day moving average price is $159.16. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 8.17 and a beta of 2.15. Atkore Inc. has a 52-week low of $121.00 and a 52-week high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98.

Atkore (NYSE:ATKR) last released its earnings results on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $792.90 million for the quarter, compared to the consensus estimate of $808.22 million. During the same period in the prior year, the firm earned $4.31 EPS. The firm’s revenue was down 11.5% on a year-over-year basis. As a group, research analysts forecast that Atkore Inc. will post 14.93 earnings per share for the current year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. Atkore’s dividend 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.