Covestor Ltd Acquires 887 Shares of Atkore Inc. (NYSE:ATKR)

Covestor Ltd boosted its holdings in Atkore Inc. (NYSE:ATKR) by 88.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,889 shares of the company’s stock after purchasing an additional 887 shares during the period. Covestor Ltd’s holdings in Atkore were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in Atkore by 87.7% during 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 during the period. Pacer Advisors Inc. raised its position in shares of Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the last quarter. KBC Group NV lifted its stake in shares of Atkore by 47.7% in the fourth 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, Matrix Trust Co grew its position in Atkore by 657.7% during the fourth quarter. Matrix Trust Co now owns 2,129 shares of the company’s stock worth $178,000 after buying an additional 1,848 shares in the last quarter.

Atkore Price Performance

NYSE:ATKR opened at $58.02 on Friday. 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 has a market cap of $2.01 billion, a PE ratio of 5.62 and a beta of 2.02. Atkore Inc. has a 12 month low of $49.92 and a 12 month high of $185.42. The company’s 50-day moving average price is $63.15 and its two-hundred day moving average price is $78.50.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same period in the prior year, the company earned $4.12 EPS. Atkore’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, equities analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.21%. Atkore’s dividend payout ratio (DPR) is 12.39%.

Insiders Place Their Bets

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 completion of the transaction, the insider now 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 SEC, which is available at the SEC website. Insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Roth Mkm started coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, KeyCorp lowered their target price on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.50.

Atkore Company 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.