one8zero8 LLC Takes $461,000 Position in Atkore Inc. (NYSE:ATKR)

one8zero8 LLC acquired a new position in shares of Atkore Inc. (NYSE:ATKR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,525 shares of the company’s stock, valued at approximately $461,000.

Other hedge funds have also modified their holdings of the company. E. Ohman J or Asset Management AB raised its holdings in shares of 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 valued at $26,569,000 after acquiring an additional 113,263 shares during the period. Wellington Management Group LLP purchased a new position in Atkore during the 3rd quarter worth approximately $7,916,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Atkore by 729.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock valued at $2,358,000 after purchasing an additional 24,476 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after purchasing an additional 134,517 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company’s stock worth $5,994,000 after buying an additional 23,628 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ATKR shares. KeyCorp reduced their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Loop Capital lowered shares of 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 research note on Monday, February 10th. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Roth Mkm initiated coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.17.

Atkore Stock Up 3.2 %

ATKR stock opened at $64.55 on Monday. The firm has a market cap of $2.24 billion, a PE ratio of 6.25 and a beta of 2.22. Atkore Inc. has a 1 year low of $55.91 and a 1 year high of $194.98. The company has a fifty day simple moving average of $73.29 and a 200 day simple moving average of $82.53. 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 announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.12 earnings per share. Sell-side analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the 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 owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.99% of the stock is owned by insiders.

Atkore 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.