Round Hill Asset Management Makes New Investment in Atkore Inc. (NYSE:ATKR)

Round Hill Asset Management bought a new stake in Atkore Inc. (NYSE:ATKR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,876 shares of the company’s stock, valued at approximately $657,000.

A number of other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in shares of 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 purchasing an additional 186 shares in the last quarter. Quarry LP grew its holdings in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of Atkore by 3,333.3% in the 4th 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 boosted its position in shares of Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after acquiring an additional 469 shares during the last quarter.

Atkore Stock Down 2.0 %

Shares of NYSE ATKR opened at $53.90 on Monday. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $66.40 and its two-hundred day moving average is $79.89. Atkore Inc. has a 52-week low of $50.40 and a 52-week high of $185.47. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 5.22 and a beta of 2.02.

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

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s payout ratio is currently 12.39%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ATKR has been the subject of several recent analyst reports. KeyCorp cut their price objective 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 lowered shares of Atkore from a “buy” rating to a “hold” rating and reduced their price target for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Roth Mkm began coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Atkore presently has an average rating of “Moderate Buy” and a consensus target price of $103.17.

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.