Virtu Financial LLC Sells 1,881 Shares of Atkore Inc. (NYSE:ATKR)

Virtu Financial LLC cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 37.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,110 shares of the company’s stock after selling 1,881 shares during the period. Virtu Financial LLC’s holdings in Atkore were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ATKR. ICA Group Wealth Management LLC acquired a new stake in Atkore during the 4th quarter worth approximately $25,000. GAMMA Investing LLC acquired a new stake in Atkore during the 4th quarter worth approximately $26,000. LifeSteps Financial Inc. acquired a new stake in Atkore during the 1st quarter worth approximately $33,000. Global Retirement Partners LLC raised its holdings in Atkore by 405.1% during the 1st quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock worth $38,000 after buying an additional 158 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in Atkore during the 4th quarter worth approximately $58,000.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore 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 of the company’s stock, valued at $4,507,154.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore 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 of the company’s stock, valued at $4,507,154.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Wilbert W. James, Jr. sold 599 shares of Atkore stock in a transaction 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 transaction, the director now directly owns 15,695 shares of the company’s stock, valued at $2,404,944.85. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.

Atkore Stock Down 5.3 %

Shares of NYSE:ATKR traded down $6.87 during midday trading on Friday, hitting $122.17. The stock had a trading volume of 782,549 shares, compared to its average volume of 520,674. Atkore Inc. has a 12 month low of $120.31 and a 12 month high of $194.98. The company has a quick ratio of 1.98, a current ratio of 3.09 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $139.64 and its 200-day simple moving average is $156.18. The company has a market cap of $4.45 billion, a P/E ratio of 7.54 and a beta of 2.15.

Atkore (NYSE:ATKR) last released its earnings results on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.86. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The business had revenue of $792.90 million during the quarter, compared to analysts’ expectations of $808.22 million. During the same period last year, the business earned $4.31 earnings per share. The firm’s revenue was down 11.5% on a year-over-year basis. On average, sell-side analysts forecast that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 1.05%. Atkore’s dividend payout ratio is presently 7.98%.

Wall Street Analysts Forecast Growth

ATKR has been the subject of several research reports. KeyCorp initiated coverage on shares of Atkore in a research note on Wednesday, July 10th. They set an “overweight” rating and a $175.00 price target for the company. Citigroup decreased their price target on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, StockNews.com cut shares of Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Atkore has an average rating of “Moderate Buy” and an average target price of $184.00.

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.