Counterpoint Mutual Funds LLC Makes New Investment in Atkore Inc. $ATKR

Counterpoint Mutual Funds LLC bought a new stake in Atkore Inc. (NYSE:ATKR) during the third quarter, Holdings Channel reports. The fund bought 9,491 shares of the company’s stock, valued at approximately $899,000.

A number of other institutional investors have also recently added to or reduced their stakes in ATKR. Oslo Pensjonsforsikring AS acquired a new position in shares of Atkore in the 1st quarter valued at about $22,209,000. Hsbc Holdings PLC purchased a new stake in shares of Atkore during the 1st quarter worth about $1,092,000. Engineers Gate Manager LP grew its holdings in shares of Atkore by 723.5% during the 2nd quarter. Engineers Gate Manager LP now owns 57,071 shares of the company’s stock worth $4,340,000 after purchasing an additional 50,141 shares during the period. Old West Investment Management LLC purchased a new stake in shares of Atkore during the 2nd quarter worth about $1,729,000. Finally, Bank of America Corp DE acquired a new stake in Atkore during the 2nd quarter worth approximately $33,367,000.

Analysts Set New Price Targets

Several research analysts recently commented on ATKR shares. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Roth Capital cut shares of Atkore from a “buy” rating to a “neutral” rating and lifted their price target for the company from $85.00 to $92.00 in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Atkore currently has an average rating of “Hold” and a consensus price target of $143.33.

Atkore Stock Up 0.0%

Shares of Atkore stock opened at $94.97 on Friday. Atkore Inc. has a twelve month low of $53.75 and a twelve month high of $94.97. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -19.74 and a beta of 1.69. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $94.22 and a 200 day moving average price of $81.92.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%. The company had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same period last year, the company posted $2.17 earnings per share. Equities research analysts forecast that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. Atkore’s dividend payout ratio is presently -27.44%.

Insider Buying and Selling at Atkore

In other news, insider Mark Lamps sold 300 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the sale, the insider owned 35,803 shares in the company, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by insiders.

Atkore Profile

Atkore Inc is a manufacturer of electrical, safety and infrastructure products for the construction, industrial and commercial markets. The company supplies systems and components used to manage, protect and route electrical wiring and cable, as well as products that support structural and safety applications.

Its product portfolio includes electrical raceway systems, conduit, fittings, cable management products, wire and cable, mechanical tubing, framing systems, and related safety and infrastructure solutions.