Matrix Trust Co Acquires 1,848 Shares of Atkore Inc. (NYSE:ATKR)

Matrix Trust Co raised its position in shares of Atkore Inc. (NYSE:ATKR) by 657.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,129 shares of the company’s stock after acquiring an additional 1,848 shares during the quarter. Matrix Trust Co’s holdings in Atkore were worth $178,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ATKR. Allspring Global Investments Holdings LLC boosted its position in Atkore by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after acquiring an additional 261,234 shares in the last quarter. Marshall Wace LLP boosted its position in Atkore by 1,047.5% during the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company’s stock valued at $30,260,000 after acquiring an additional 204,723 shares in the last quarter. M&G PLC purchased a new position in shares of Atkore during the third quarter valued at approximately $9,123,000. Algert Global LLC lifted its holdings in shares of Atkore by 331.6% during the third quarter. Algert Global LLC now owns 125,894 shares of the company’s stock valued at $10,668,000 after purchasing an additional 96,724 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Atkore during the third quarter valued at approximately $7,916,000.

Insider Activity

In other news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares of the company’s stock, valued at $2,405,757.55. The trade was a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now directly owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock valued at $1,614,975 in the last 90 days. Company insiders own 1.99% of the company’s stock.

Atkore Price Performance

Shares of ATKR opened at $81.97 on Monday. The firm has a market cap of $2.85 billion, a PE ratio of 6.49 and a beta of 2.13. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $88.39 and a two-hundred day simple moving average of $98.10. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). The company had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. Atkore’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.63 earnings per share. On average, equities analysts anticipate that Atkore Inc. will post 6.69 EPS for the current year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s payout ratio is 10.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Mkm assumed coverage on shares of Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Royal Bank of Canada reiterated 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. Finally, Loop Capital lowered their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $115.67.

Atkore Company 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.