Easterly Investment Partners LLC Purchases New Holdings in Atkore Inc. (NYSE:ATKR)

Easterly Investment Partners LLC bought a new position in Atkore Inc. (NYSE:ATKR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 51,608 shares of the company’s stock, valued at approximately $4,307,000. Easterly Investment Partners LLC owned 0.15% of Atkore at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after acquiring an additional 186 shares during the period. Quarry LP boosted its stake in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after purchasing an additional 208 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after purchasing an additional 469 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have commented on ATKR shares. KeyCorp dropped their target price on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Roth Mkm initiated coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Atkore presently has an average rating of “Moderate Buy” and an average price target of $103.17.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.99% of the company’s stock.

Atkore Stock Performance

Shares of ATKR stock opened at $63.06 on Thursday. The business’s 50-day moving average price is $70.14 and its 200-day moving average price is $81.19. Atkore Inc. has a 12 month low of $55.91 and a 12 month high of $194.98. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 6.10 and a beta of 2.22.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. Atkore’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.12 earnings per share. Equities research analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

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.