Demars Financial Group LLC Buys New Holdings in Atkore Inc. (NYSE:ATKR)

Demars Financial Group LLC bought a new stake in Atkore Inc. (NYSE:ATKR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,616 shares of the company’s stock, valued at approximately $2,782,000. Atkore makes up approximately 1.3% of Demars Financial Group LLC’s portfolio, making the stock its 13th biggest holding. Demars Financial Group LLC owned 0.06% of Atkore at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ATKR. ICA Group Wealth Management LLC acquired a new stake in Atkore in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC acquired a new stake in Atkore in the fourth quarter valued at approximately $26,000. LifeSteps Financial Inc. purchased a new position in Atkore in the first quarter valued at approximately $33,000. Global Retirement Partners LLC increased its stake in Atkore by 405.1% in the first quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new position in Atkore in the fourth quarter valued at approximately $58,000.

Insider Buying and Selling at Atkore

In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by corporate insiders.

Atkore Stock Performance

Shares of Atkore stock traded up $1.55 during trading on Friday, reaching $95.59. The company’s stock had a trading volume of 981,167 shares, compared to its average volume of 616,621. The company has a 50-day moving average price of $129.03 and a two-hundred day moving average price of $152.11. The firm has a market cap of $3.48 billion, a PE ratio of 5.96 and a beta of 2.15. Atkore Inc. has a fifty-two week low of $91.31 and a fifty-two week high of $194.98. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. The business had revenue of $822.40 million for the quarter, compared to analysts’ expectations of $830.16 million. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.13 EPS. On average, analysts forecast that Atkore Inc. will post 14.93 EPS for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.34%. Atkore’s dividend payout ratio is currently 7.98%.

Analysts Set New Price Targets

Several brokerages have commented on ATKR. B. Riley dropped their price target on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. KeyCorp dropped their price target on shares of Atkore from $175.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada lowered shares of Atkore from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Citigroup dropped their price target on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, StockNews.com lowered shares of Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $137.00.

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.