Lakewood Asset Management LLC Purchases 126 Shares of Atkore Inc. (NYSE:ATKR)

Lakewood Asset Management LLC increased its position in shares of Atkore Inc. (NYSE:ATKR) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,057 shares of the company’s stock after purchasing an additional 126 shares during the period. Lakewood Asset Management LLC’s holdings in Atkore were worth $756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ATKR. Commonwealth Equity Services LLC grew its position in Atkore by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock valued at $555,000 after acquiring an additional 129 shares during the period. Cornercap Investment Counsel Inc. grew its position in Atkore by 3.9% in the third quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock valued at $431,000 after acquiring an additional 189 shares during the period. Quarry LP grew its position in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares during the period. Glenmede Trust Co. NA grew its position in Atkore by 6.0% in the third quarter. Glenmede Trust Co. NA now owns 4,523 shares of the company’s stock valued at $383,000 after acquiring an additional 256 shares during the period. Finally, Townsquare Capital LLC grew its holdings in shares of Atkore by 11.0% during the third quarter. Townsquare Capital LLC now owns 2,733 shares of the company’s stock worth $232,000 after purchasing an additional 271 shares during the last quarter.

Insider Buying and Selling at Atkore

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the transaction, the director now directly owns 25,585 shares in the company, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the transaction, the insider now owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,924 shares of company stock valued at $1,614,975. 1.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several research analyst reports. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Mkm initiated coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Loop Capital decreased their target price on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Roth Capital raised Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $115.67.

Atkore Trading Up 1.0 %

Shares of ATKR opened at $83.66 on Thursday. Atkore Inc. has a 12-month low of $76.01 and a 12-month high of $194.98. The stock’s fifty day simple moving average is $87.73 and its 200-day simple moving average is $97.29. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $2.90 billion, a PE ratio of 6.62 and a beta of 2.13.

Atkore (NYSE:ATKR) last released its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The company had revenue of $788.30 million during the quarter, compared to analyst estimates of $749.49 million. During the same period in the previous year, the company posted $3.63 EPS. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, research analysts predict that Atkore Inc. will post 6.62 earnings per share for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s payout ratio is 10.13%.

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.