Quantbot Technologies LP Buys 50,152 Shares of Atkore Inc. (NYSE:ATKR)

Quantbot Technologies LP increased its stake in Atkore Inc. (NYSE:ATKR) by 138.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,283 shares of the company’s stock after acquiring an additional 50,152 shares during the period. Quantbot Technologies LP’s holdings in Atkore were worth $7,200,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after purchasing an additional 134,517 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Atkore by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock valued at $44,243,000 after buying an additional 50,194 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after acquiring an additional 459,200 shares during the period. Royce & Associates LP raised its stake in shares of Atkore by 4.2% during the fourth quarter. Royce & Associates LP now owns 412,752 shares of the company’s stock valued at $34,444,000 after acquiring an additional 16,698 shares during the last quarter. Finally, 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 acquiring an additional 113,263 shares during the last quarter.

Atkore Trading Down 1.6 %

NYSE:ATKR opened at $62.93 on Friday. The firm has a market capitalization of $2.19 billion, a P/E ratio of 6.09 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore Inc. has a one year low of $55.91 and a one year high of $194.98. The company’s 50-day simple moving average is $71.36 and its 200 day simple moving average is $81.70.

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, topping analysts’ consensus estimates 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 net margin of 12.42% and a return on equity of 25.69%. Atkore’s revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.12 EPS. As a group, analysts forecast that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ATKR shares. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $65.00 in a research note on Monday, February 10th. 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. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Roth Mkm started coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price for the company. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.17.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the sale, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.99% of the stock is owned by company insiders.

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.