Atkore Inc. (NYSE:ATKR) Shares Acquired by Isthmus Partners LLC

Isthmus Partners LLC boosted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,441 shares of the company’s stock after purchasing an additional 162 shares during the period. Isthmus Partners LLC owned about 0.06% of Atkore worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ATKR. E. Ohman J or Asset Management AB boosted its stake in shares of Atkore by 55.2% during the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after acquiring an additional 113,263 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Atkore in the third quarter valued at about $7,916,000. Chase Investment Counsel Corp raised its position in shares of Atkore by 97.0% during the 3rd quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock valued at $1,101,000 after buying an additional 6,400 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Atkore by 729.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock worth $2,358,000 after purchasing an additional 24,476 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Atkore by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,927 shares of the company’s stock worth $2,136,000 after acquiring an additional 7,123 shares during the last quarter.

Wall Street Analyst Weigh In

ATKR has been the subject of several recent research reports. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. KeyCorp cut their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Atkore has an average rating of “Moderate Buy” and a consensus target price of $103.17.

Atkore Stock Performance

ATKR opened at $64.96 on Monday. Atkore Inc. has a twelve month low of $55.91 and a twelve month high of $194.98. The stock has a market cap of $2.26 billion, a PE ratio of 6.29 and a beta of 2.22. The business’s 50 day moving average is $75.19 and its 200-day moving average is $83.73. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51.

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

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Atkore’s dividend payout ratio (DPR) is 12.39%.

Insider Buying and Selling at Atkore

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

Atkore 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.