Robotti Robert Cuts Stock Holdings in Atkore Inc. (NYSE:ATKR)

Robotti Robert lowered its position in Atkore Inc. (NYSE:ATKR) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the company’s stock after selling 1,000 shares during the period. Robotti Robert’s holdings in Atkore were worth $1,043,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ATKR. E. Ohman J or Asset Management AB increased its stake in Atkore by 55.2% in the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after buying an additional 113,263 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Atkore during the third quarter valued at approximately $7,916,000. Y Intercept Hong Kong Ltd lifted its holdings in Atkore by 729.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock worth $2,358,000 after acquiring an additional 24,476 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after purchasing an additional 134,517 shares during the last quarter. Finally, Barclays PLC grew its stake in Atkore by 50.2% in the 3rd quarter. Barclays PLC now owns 70,736 shares of the company’s stock valued at $5,994,000 after purchasing an additional 23,628 shares during the period.

Atkore Stock Performance

Shares of ATKR stock opened at $63.06 on Thursday. The firm’s 50 day moving average is $70.14 and its 200 day moving average is $81.19. The stock has a market capitalization of $2.19 billion, a P/E ratio of 6.10 and a beta of 2.22. Atkore Inc. has a 12 month low of $55.91 and a 12 month high of $194.98. 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 posted its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. During the same quarter in the prior year, the business posted $4.12 earnings per share. The business’s quarterly revenue was down 17.1% on a year-over-year basis. On average, sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s payout ratio is presently 12.39%.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ATKR. KeyCorp lowered their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Mkm assumed coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.17.

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.