Ruffer LLP Invests $4.06 Million in Atkore Inc. (NYSE:ATKR)

Ruffer LLP acquired a new stake in Atkore Inc. (NYSE:ATKR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 48,660 shares of the company’s stock, valued at approximately $4,061,000. Ruffer LLP owned 0.14% of Atkore at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lakewood Asset Management LLC lifted its position in Atkore by 1.4% during the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock valued at $756,000 after acquiring an additional 126 shares during the period. Willis Investment Counsel grew its holdings in Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after purchasing an additional 171 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after buying an additional 186 shares in the last quarter. Cornercap Investment Counsel Inc. increased 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 acquiring an additional 189 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after purchasing an additional 195 shares in the last quarter.

Insider Transactions at Atkore

In other 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 completion of the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.99% of the company’s stock.

Atkore Trading Up 0.4 %

Shares of NYSE ATKR opened at $64.96 on Friday. 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 market capitalization of $2.26 billion, a PE ratio of 6.29 and a beta of 2.22. Atkore Inc. has a twelve month low of $55.91 and a twelve month high of $194.98. The stock has a fifty day simple moving average of $75.19 and a 200-day simple moving average of $83.83.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $680.77 million. During the same period in the previous year, the company posted $4.12 EPS. Atkore’s revenue was down 17.1% compared to the same quarter last year. On average, equities analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. Atkore’s dividend payout ratio (DPR) is 12.39%.

Wall Street Analysts Forecast Growth

ATKR has been the subject of a number of recent analyst reports. Roth Mkm assumed coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. KeyCorp reduced their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, 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 report on Monday, February 10th. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.