Atkore Inc. (NYSE:ATKR) Shares Bought by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in Atkore Inc. (NYSE:ATKR) by 16.0% during the fourth quarter, Holdings Channel reports. The firm owned 24,600 shares of the company’s stock after acquiring an additional 3,400 shares during the period. Alberta Investment Management Corp’s holdings in Atkore were worth $2,053,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Creative Planning increased its holdings in Atkore by 37.1% in the 3rd quarter. Creative Planning now owns 7,658 shares of the company’s stock worth $649,000 after buying an additional 2,073 shares during the period. Blue Trust Inc. boosted its holdings in shares of Atkore by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 2,397 shares of the company’s stock valued at $203,000 after acquiring an additional 316 shares during the last quarter. Signaturefd LLC increased its stake in shares of Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after acquiring an additional 401 shares during the period. E. Ohman J or Asset Management AB increased its stake in shares of Atkore by 3.7% in the third quarter. E. Ohman J or Asset Management AB now owns 205,125 shares of the company’s stock worth $17,382,000 after acquiring an additional 7,256 shares during the period. Finally, Arkadios Wealth Advisors raised its holdings in shares of Atkore by 19.5% during the third quarter. Arkadios Wealth Advisors now owns 4,259 shares of the company’s stock worth $361,000 after purchasing an additional 696 shares during the last quarter.

Insider Buying and Selling

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 stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were 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 owns 25,585 shares in the company, valued at $2,405,757.55. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock worth $1,599,200 in the last 90 days. Insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Roth Mkm began coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. KeyCorp dropped their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.17.

Atkore Stock Down 2.4 %

Shares of ATKR opened at $65.68 on Friday. The firm has a market cap of $2.28 billion, a P/E ratio of 6.36 and a beta of 2.12. Atkore Inc. has a 12 month low of $62.62 and a 12 month high of $194.98. The stock’s 50 day moving average is $79.75 and its two-hundred day moving average is $86.57. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.12 EPS. Analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 1.95%. Atkore’s dividend payout ratio (DPR) 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.