Denali Advisors LLC Has $4.42 Million Stock Position in Atkore Inc. (NYSE:ATKR)

Denali Advisors LLC trimmed its position in Atkore Inc. (NYSE:ATKR) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 53,000 shares of the company’s stock after selling 1,600 shares during the period. Denali Advisors LLC owned 0.15% of Atkore worth $4,423,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Lakewood Asset Management LLC increased its holdings in Atkore by 1.4% in the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after purchasing an additional 126 shares in the last quarter. Willis Investment Counsel increased its stake in shares of Atkore by 3.3% in the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after buying an additional 171 shares during the period. Cornercap Investment Counsel Inc. raised its holdings in Atkore by 3.9% in the 3rd quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock valued at $431,000 after buying an additional 189 shares during the last quarter. Pacer Advisors Inc. boosted its position in Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares during the period. Finally, Quarry LP grew its holdings in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after acquiring an additional 208 shares during the last quarter.

Atkore Stock Down 1.2 %

Shares of Atkore stock opened at $63.71 on Wednesday. The stock’s 50-day moving average is $78.96 and its 200 day moving average is $85.81. Atkore Inc. has a one year low of $62.62 and a one year high of $194.98. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 6.17 and a beta of 2.12. 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 (NYSE:ATKR) last posted 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 firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.12 EPS. Equities research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ATKR shares. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, B. Riley cut Atkore from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now directly 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 own 1.99% of the company’s stock.

Atkore Company 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.