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

Robotti Robert reduced its stake in Atkore Inc. (NYSE:ATKR) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the company’s stock after selling 1,000 shares during the quarter. Robotti Robert’s holdings in Atkore were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ATKR. Jones Financial Companies Lllp boosted its holdings in shares of Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 186 shares in the last quarter. Quarry LP lifted its position in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares in the last quarter. Harbour Investments Inc. grew its position in Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, KBC Group NV grew its position in Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after acquiring an additional 469 shares during the last quarter.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated 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 represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.99% of the stock is currently owned by insiders.

Atkore Price Performance

ATKR stock opened at $63.06 on Thursday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 6.10 and a beta of 2.22. The firm’s 50-day moving average price is $70.14 and its two-hundred day moving average price is $81.19. 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 Inc. has a 12-month low of $55.91 and a 12-month high of $194.98.

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. The company had revenue of $661.60 million for 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%. Atkore’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period last year, the firm earned $4.12 earnings per share. As a group, equities analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ATKR shares. Roth Mkm initiated coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. KeyCorp lowered their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Roth Capital raised 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 target price for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

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.