Twelve Points Wealth Management LLC Has $1.45 Million Stake in Atkore Inc. (NYSE:ATKR)

Twelve Points Wealth Management LLC raised its holdings in Atkore Inc. (NYSE:ATKR) by 20.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,050 shares of the company’s stock after buying an additional 2,884 shares during the period. Twelve Points Wealth Management LLC’s holdings in Atkore were worth $1,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hodges Capital Management Inc. bought a new position in shares of Atkore in the second quarter valued at $4,158,000. Capital World Investors bought a new position in shares of Atkore in the 1st quarter valued at about $14,986,000. Sei Investments Co. increased its stake in shares of Atkore by 44.3% during the 1st quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock worth $12,547,000 after purchasing an additional 20,244 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Atkore in the 2nd quarter valued at about $23,306,000. Finally, Maverick Capital Ltd. lifted its stake in Atkore by 386.9% in the 2nd quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock valued at $1,310,000 after purchasing an additional 7,715 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. B. Riley lowered their price target on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Loop Capital decreased their target price on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, September 20th. KeyCorp dropped their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Finally, Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.60.

Atkore Stock Performance

NYSE:ATKR opened at $89.00 on Thursday. The stock has a 50 day simple moving average of $89.13 and a 200 day simple moving average of $129.56. The stock has a market cap of $3.24 billion, a P/E ratio of 5.55 and a beta of 2.14. Atkore Inc. has a 1-year low of $80.11 and a 1-year high of $194.98. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The company had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same quarter last year, the firm earned $5.13 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. Research analysts anticipate that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a $0.32 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.44%. Atkore’s payout ratio is 7.98%.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.56% of the stock is currently owned by corporate insiders.

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.