Atkore Inc. (NYSE:ATKR) Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC boosted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 16.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,799 shares of the company’s stock after purchasing an additional 544 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Atkore were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATKR. Allspring Global Investments Holdings LLC lifted its position in Atkore by 26.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after purchasing an additional 261,234 shares during the period. M&G PLC acquired a new position in shares of Atkore in the third quarter worth about $9,123,000. Algert Global LLC raised its position in shares of Atkore by 331.6% in the third quarter. Algert Global LLC now owns 125,894 shares of the company’s stock worth $10,668,000 after acquiring an additional 96,724 shares during the period. Wellington Management Group LLP acquired a new position in shares of Atkore in the third quarter worth about $7,916,000. Finally, Millennium Management LLC raised its position in shares of Atkore by 84.4% in the second quarter. Millennium Management LLC now owns 181,120 shares of the company’s stock worth $24,439,000 after acquiring an additional 82,903 shares during the period.

Insiders Place Their Bets

In other news, VP Daniel S. Kelly sold 13,071 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the sale, the vice president now directly owns 27,528 shares in the company, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeri L. Isbell sold 3,353 shares of the firm’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 in the company, valued at $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock worth $1,614,975 in the last ninety days. 1.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ATKR. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. Loop Capital reduced their price target on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Four 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 stock currently has an average rating of “Moderate Buy” and an average price target of $115.67.

Atkore Stock Performance

NYSE:ATKR opened at $84.82 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The stock has a market capitalization of $2.94 billion, a P/E ratio of 6.72 and a beta of 2.13. The company has a 50 day moving average price of $86.53 and a 200 day moving average price of $94.74. Atkore Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last posted its quarterly earnings data 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 return on equity of 32.14% and a net margin of 14.77%. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.63 EPS. Equities research analysts forecast that Atkore Inc. will post 6.62 EPS for the current year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.51%. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

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.