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

Linden Thomas Advisory Services LLC lifted its stake in shares of Atkore Inc. (NYSE:ATKR) by 6.3% during the 4th quarter, Holdings Channel reports. The fund owned 2,347 shares of the company’s stock after buying an additional 139 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Atkore were worth $376,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ATKR. Orion Capital Management LLC purchased a new position in Atkore during the third quarter worth about $30,000. Anchor Investment Management LLC acquired a new stake in shares of Atkore during the 4th quarter worth approximately $32,000. NBC Securities Inc. purchased a new stake in shares of Atkore during the 3rd quarter valued at approximately $54,000. McGlone Suttner Wealth Management Inc. acquired a new position in Atkore in the fourth quarter valued at approximately $72,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Atkore by 34.9% in the third quarter. Parkside Financial Bank & Trust now owns 533 shares of the company’s stock valued at $80,000 after acquiring an additional 138 shares during the last quarter.

Atkore Stock Performance

NYSE:ATKR opened at $183.04 on Friday. Atkore Inc. has a fifty-two week low of $116.14 and a fifty-two week high of $194.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96. The company has a 50 day moving average price of $173.49 and a 200 day moving average price of $153.41. The stock has a market capitalization of $6.73 billion, a P/E ratio of 10.97 and a beta of 2.19.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $1.04. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The company had revenue of $798.50 million for the quarter, compared to analysts’ expectations of $777.05 million. During the same period in the prior year, the firm earned $4.51 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts forecast that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Monday, February 26th. Atkore’s dividend payout ratio (DPR) is 7.67%.

Wall Street Analyst Weigh In

ATKR has been the subject of several recent analyst reports. Citigroup raised their target price on Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 price target on shares of Atkore in a report on Friday, March 22nd. Finally, StockNews.com upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Friday, April 5th.

Insider Buying and Selling at Atkore

In other news, VP Leangela W. Lowe sold 6,500 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the sale, the vice president now owns 25,590 shares of the company’s stock, valued at $4,505,631.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Atkore news, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the transaction, the vice president now owns 25,590 shares in the company, valued at $4,505,631.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William E. Jr. Waltz sold 43,072 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the sale, the chief executive officer now directly owns 83,716 shares in the company, valued at approximately $13,434,743.68. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock valued at $25,124,751 in the last three months. 2.56% of the stock is owned by corporate 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.