DnB Asset Management AS Purchases 27,660 Shares of Atkore Inc. (NYSE:ATKR)

DnB Asset Management AS increased its holdings in Atkore Inc. (NYSE:ATKR) by 24.5% during the 4th quarter, HoldingsChannel reports. The firm owned 140,450 shares of the company’s stock after buying an additional 27,660 shares during the period. DnB Asset Management AS’s holdings in Atkore were worth $11,721,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ATKR. Lakewood Asset Management LLC increased its holdings in shares of Atkore by 1.4% in the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after buying an additional 126 shares during the last quarter. Isthmus Partners LLC raised its position in Atkore by 0.8% during the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock valued at $1,789,000 after purchasing an additional 162 shares during the period. Xponance Inc. boosted its holdings in shares of Atkore by 6.9% in the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock worth $214,000 after purchasing an additional 166 shares during the period. Willis Investment Counsel increased its position in shares of Atkore by 3.3% during the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after purchasing an additional 171 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after buying an additional 186 shares during the period.

Atkore Stock Performance

Atkore stock opened at $60.54 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The company has a market capitalization of $2.10 billion, a PE ratio of 5.86 and a beta of 2.22. The company has a 50 day moving average price of $69.23 and a 200-day moving average price of $80.89. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $680.77 million. During the same period in the previous year, the company posted $4.12 EPS. Atkore’s revenue was down 17.1% on a year-over-year basis. As a group, equities analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

Analyst Ratings Changes

ATKR has been the topic of a number of analyst reports. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. KeyCorp dropped their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Roth Mkm initiated coverage on Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Loop Capital cut Atkore from a “buy” rating to a “hold” rating and dropped their price objective for the company from $115.00 to $65.00 in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Atkore currently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

Insider Buying and Selling at Atkore

In other Atkore 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 transaction of $32,500.00. Following the sale, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.99% of the company’s stock.

About Atkore

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.