2,400 Shares in Atkore Inc. (NYSE:ATKR) Acquired by Aristides Capital LLC

Aristides Capital LLC purchased a new position in Atkore Inc. (NYSE:ATKR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,400 shares of the company’s stock, valued at approximately $200,000.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Atkore by 549.9% in the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock valued at $50,658,000 after purchasing an additional 513,631 shares during the period. Norges Bank acquired a new position in Atkore in the 4th quarter worth $42,339,000. Victory Capital Management Inc. boosted its position in Atkore by 3,948.4% in the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after buying an additional 459,200 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Atkore by 10.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after acquiring an additional 134,517 shares in the last quarter. Finally, E. Ohman J or Asset Management AB increased its position in shares of Atkore by 55.2% during the fourth 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 during the last quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on ATKR. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. KeyCorp decreased their price target 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. 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 Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. 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 data from MarketBeat, Atkore has a consensus rating of “Moderate Buy” and a consensus price target of $103.17.

Atkore Stock Performance

Shares of NYSE ATKR opened at $53.75 on Tuesday. 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 firm’s 50-day moving average price is $65.82 and its two-hundred day moving average price is $79.64. The stock has a market capitalization of $1.87 billion, a P/E ratio of 5.20 and a beta of 2.02. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $185.47.

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

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.38%. Atkore’s dividend payout ratio is presently 12.39%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on 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 transaction, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.99% of the stock is currently owned by company 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.