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

Measured Wealth Private Client Group LLC trimmed its holdings in Atkore Inc. (NYSE:ATKR) by 13.1% during the first quarter, HoldingsChannel.com reports. The fund 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 institutional investors and hedge funds have also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. grew its stake in shares of Atkore by 1.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 5,017 shares of the company’s stock valued at $803,000 after purchasing an additional 63 shares during the last quarter. Ritholtz Wealth Management grew its position in Atkore by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 2,042 shares of the company’s stock valued at $327,000 after buying an additional 69 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in Atkore by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company’s stock valued at $765,000 after buying an additional 69 shares during the period. Riverwater Partners LLC raised its position in Atkore by 0.6% during the 4th quarter. Riverwater Partners LLC now owns 13,245 shares of the company’s stock worth $2,119,000 after buying an additional 78 shares during the last quarter. Finally, Roman Butler Fullerton & Co. lifted its stake in shares of Atkore by 3.2% in the 4th quarter. Roman Butler Fullerton & Co. now owns 2,755 shares of the company’s stock worth $422,000 after acquiring an additional 85 shares during the period.

Insiders Place Their Bets

In related news, Director Wilbert W. James, Jr. sold 599 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the sale, the director now owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated 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 sale, the insider now directly owns 28,586 shares in the company, valued at $4,507,154.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total transaction of $91,784.77. Following the sale, the director now owns 15,695 shares in the company, 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 company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ATKR. Citigroup dropped their price target on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Royal Bank of Canada reissued an “outperform” rating and set 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 note on Wednesday, May 8th.

Atkore Price Performance

Atkore stock traded down $1.33 during mid-day trading on Tuesday, reaching $131.00. The company had a trading volume of 308,973 shares, compared to its average volume of 518,770. The stock’s 50-day simple moving average is $151.35 and its 200-day simple moving average is $159.16. Atkore Inc. has a 1 year low of $121.00 and a 1 year 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. The company has a market capitalization of $4.77 billion, a P/E ratio of 8.17 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 (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.86. The firm had revenue of $792.90 million during the quarter, compared to analysts’ expectations of $808.22 million. Atkore had a return on equity of 43.19% and a net margin of 18.30%. Atkore’s revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.31 earnings per share. On average, equities analysts predict that Atkore Inc. will post 14.93 EPS for the current year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.32 per share. The ex-dividend date was Monday, May 20th. This represents a $1.28 annualized dividend and a yield of 0.98%. Atkore’s dividend payout ratio (DPR) is currently 7.98%.

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.