Royce & Associates LP Acquires 16,698 Shares of Atkore Inc. (NYSE:ATKR)

Royce & Associates LP boosted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 412,752 shares of the company’s stock after buying an additional 16,698 shares during the period. Royce & Associates LP owned approximately 1.19% of Atkore worth $34,444,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after buying an additional 186 shares during the period. Quarry LP lifted its stake in Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after purchasing an additional 208 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after purchasing an additional 195 shares during the last quarter. KBC Group NV lifted its stake in Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after purchasing an additional 469 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Atkore during the third quarter worth about $143,000.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the transaction, the insider now owns 33,760 shares in the company, valued at $2,194,400. The trade was 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. 1.99% of the stock is owned by company insiders.

Atkore Trading Up 3.2 %

NYSE ATKR opened at $64.55 on Friday. Atkore Inc. has a 1-year low of $55.91 and a 1-year 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 stock has a 50-day moving average of $73.29 and a 200-day moving average of $82.60. The firm has a market cap of $2.24 billion, a PE ratio of 6.25 and a beta of 2.22.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. During the same quarter in the previous year, the business earned $4.12 EPS. Atkore’s revenue was down 17.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The firm also recently declared 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 yield of 1.98%. Atkore’s dividend payout ratio is presently 12.39%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ATKR shares. Roth Mkm started coverage on Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. B. Riley lowered 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. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and dropped their price target for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, KeyCorp dropped their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.