Exchange Traded Concepts LLC Has $2.50 Million Stock Position in Atkore Inc. (NYSE:ATKR)

Exchange Traded Concepts LLC increased its holdings in shares of Atkore Inc. (NYSE:ATKR) by 2,642.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 29,947 shares of the company’s stock after acquiring an additional 28,855 shares during the period. Exchange Traded Concepts LLC’s holdings in Atkore were worth $2,499,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ATKR. Lakewood Asset Management LLC increased its holdings in shares of Atkore by 1.4% during the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after buying an additional 126 shares in the last quarter. Cornercap Investment Counsel Inc. grew its holdings in shares of Atkore by 3.9% during the third quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock worth $431,000 after purchasing an additional 189 shares during the last quarter. Quarry LP increased its stake 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 buying an additional 208 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Atkore by 6.0% in the third quarter. Glenmede Trust Co. NA now owns 4,523 shares of the company’s stock valued at $383,000 after buying an additional 256 shares during the last quarter. Finally, Townsquare Capital LLC lifted its position in Atkore by 11.0% during the 3rd quarter. Townsquare Capital LLC now owns 2,733 shares of the company’s stock worth $232,000 after buying an additional 271 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Roth Mkm assumed coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. Loop Capital lowered their target price on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.67.

Atkore Price Performance

ATKR opened at $84.82 on Friday. The company has a fifty day moving average price of $86.53 and a two-hundred day moving average price of $95.06. The firm has a market capitalization of $2.95 billion, a PE ratio of 6.72 and a beta of 2.13. Atkore Inc. has a 52 week low of $76.01 and a 52 week high of $194.98. 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 announced its quarterly earnings data on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company had revenue of $788.30 million for the quarter, compared to analyst estimates of $749.49 million. During the same period last year, the firm earned $3.63 earnings per share. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, analysts anticipate that Atkore Inc. will post 6.62 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, December 6th were given a $0.32 dividend. The ex-dividend date was 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 10.13%.

Insider Buying and Selling

In related news, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares in the company, valued at $2,405,757.55. This represents a 11.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the transaction, the vice president now owns 27,528 shares in the company, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock valued at $1,614,975 in the last 90 days. 1.99% of the stock is owned by insiders.

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.