Peterson Wealth Services Raises Position in Atkore Inc. (NYSE:ATKR)

Peterson Wealth Services increased its position in shares of Atkore Inc. (NYSE:ATKR) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,847 shares of the company’s stock after purchasing an additional 757 shares during the period. Peterson Wealth Services’ holdings in Atkore were worth $571,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Atkore by 101.0% during the 4th quarter. Empowered Funds LLC now owns 34,134 shares of the company’s stock worth $2,848,000 after buying an additional 17,150 shares in the last quarter. E. Ohman J or Asset Management AB grew its holdings in Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after acquiring an additional 113,263 shares during the period. Boston Trust Walden Corp raised its position in Atkore by 44.9% in the fourth quarter. Boston Trust Walden Corp now owns 272,939 shares of the company’s stock worth $22,777,000 after acquiring an additional 84,584 shares in the last quarter. Willis Investment Counsel lifted its holdings in Atkore by 3.3% in the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after acquiring an additional 171 shares during the period. Finally, Swedbank AB boosted its position in shares of Atkore by 18.4% during the 4th quarter. Swedbank AB now owns 296,791 shares of the company’s stock worth $24,767,000 after purchasing an additional 46,200 shares in the last quarter.

Wall Street Analysts Forecast Growth

ATKR has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Mkm assumed coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. KeyCorp lowered their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $65.00 in a research report on Monday. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Atkore presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.17.

Insider Activity at Atkore

In related news, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the transaction, the director now directly owns 25,585 shares in the company, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,924 shares of company stock valued at $1,599,200. Company insiders own 1.99% of the company’s stock.

Atkore Price Performance

Shares of NYSE:ATKR opened at $69.38 on Tuesday. 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 business’s fifty day moving average price is $83.46 and its two-hundred day moving average price is $89.91. The stock has a market cap of $2.41 billion, a PE ratio of 6.72 and a beta of 2.12. Atkore Inc. has a one year low of $62.62 and a one year high of $194.98.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS 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 for the quarter, compared to analyst estimates of $680.77 million. During the same quarter last year, the company earned $4.12 earnings per share. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, analysts forecast that Atkore Inc. will post 6.55 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, February 18th. Atkore’s dividend payout ratio is presently 12.39%.

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.