Peterson Wealth Services Grows Stake in Atkore Inc. (NYSE:ATKR)

Peterson Wealth Services lifted its stake in Atkore Inc. (NYSE:ATKR) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,847 shares of the company’s stock after buying an additional 757 shares during the period. Peterson Wealth Services’ holdings in Atkore were worth $571,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Empowered Funds LLC lifted its position in 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 acquiring an additional 17,150 shares in the last quarter. E. Ohman J or Asset Management AB raised its stake 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 purchasing an additional 113,263 shares during the period. Boston Trust Walden Corp raised its stake in shares of Atkore by 44.9% during the fourth quarter. Boston Trust Walden Corp now owns 272,939 shares of the company’s stock valued at $22,777,000 after purchasing an additional 84,584 shares during the period. Willis Investment Counsel boosted its stake in shares of 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 purchasing an additional 171 shares during the period. Finally, Swedbank AB grew its holdings in Atkore by 18.4% during the 4th quarter. Swedbank AB now owns 296,791 shares of the company’s stock valued at $24,767,000 after purchasing an additional 46,200 shares in the last quarter.

Atkore Price Performance

Shares of ATKR opened at $69.38 on Tuesday. Atkore Inc. has a 52 week low of $62.62 and a 52 week 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. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 6.72 and a beta of 2.12. The stock has a 50 day moving average of $83.46 and a 200-day moving average of $89.91.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.12 earnings per share. As a group, analysts forecast that Atkore Inc. will post 6.55 EPS for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid 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 yield of 1.84%. Atkore’s dividend payout ratio (DPR) is 12.39%.

Analyst Upgrades and Downgrades

ATKR has been the topic of a number of recent analyst reports. KeyCorp cut their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $65.00 in a research note on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Atkore currently has an average rating of “Moderate Buy” and an average target price of $103.17.

Insiders Place Their Bets

In related news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock valued at $1,599,200 over the last quarter. Insiders own 1.99% of the company’s stock.

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.