AdvisorShares Investments LLC Acquires Shares of 5,700 Atkore Inc. (NYSE:ATKR)

AdvisorShares Investments LLC bought a new position in Atkore Inc. (NYSE:ATKR) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 5,700 shares of the company’s stock, valued at approximately $476,000.

Several other hedge funds have also recently made changes to their positions in ATKR. Jones Financial Companies Lllp grew its position in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after acquiring an additional 186 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after purchasing an additional 195 shares during the period. Harbour Investments Inc. increased its position in shares of Atkore by 3,333.3% during the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV raised its holdings in 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 buying an additional 469 shares during the period. Finally, Covestor Ltd lifted its position in Atkore by 88.5% in the fourth quarter. Covestor Ltd now owns 1,889 shares of the company’s stock worth $157,000 after buying an additional 887 shares during the last quarter.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now directly 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 SEC, which is available through this link. Insiders own 1.99% of the company’s stock.

Atkore Trading Up 0.4 %

Shares of NYSE ATKR opened at $63.73 on Wednesday. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $183.46. 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 has a fifty day simple moving average of $61.15 and a two-hundred day simple moving average of $76.47. The firm has a market cap of $2.21 billion, a PE ratio of 6.17 and a beta of 2.02.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping 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 company had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. During the same period in the prior year, the firm earned $4.12 earnings per share. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. Analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.01%. Atkore’s dividend payout ratio is presently 12.39%.

Wall Street Analyst Weigh In

ATKR has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. KeyCorp reduced their price objective on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and dropped their target price for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, Royal Bank of Canada increased their price target on Atkore from $64.00 to $65.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Atkore presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

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.