Virtu Financial LLC Purchases New Shares in Atkore Inc. (NYSE:ATKR)

Virtu Financial LLC acquired a new position in shares of Atkore Inc. (NYSE:ATKR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,227 shares of the company’s stock, valued at approximately $867,000.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after acquiring an additional 401 shares during the period. Quarry LP lifted its holdings in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares in the last quarter. Covestor Ltd boosted its position in shares of Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after buying an additional 390 shares during the period. Headlands Technologies LLC grew its holdings in shares of Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after buying an additional 805 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in Atkore during the third quarter valued at $126,000.

Insider Transactions at Atkore

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the completion of the sale, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,924 shares of company stock worth $1,614,975. 2.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ATKR has been the subject of a number of research reports. KeyCorp decreased their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Loop Capital dropped their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atkore presently has an average rating of “Hold” and an average price target of $118.80.

Atkore Trading Down 2.2 %

Shares of NYSE ATKR opened at $84.84 on Friday. The business has a 50 day simple moving average of $89.61 and a 200 day simple moving average of $107.13. Atkore Inc. has a 52 week low of $76.01 and a 52 week high of $194.98. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 6.72 and a beta of 2.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The business had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The business’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.63 earnings per share. On average, research analysts predict that Atkore Inc. will post 6.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be given a $0.32 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.51%. Atkore’s dividend payout ratio is currently 10.13%.

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.