Entropy Technologies LP Sells 1,900 Shares of Atkore Inc. (NYSE:ATKR)

Entropy Technologies LP cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,981 shares of the company’s stock after selling 1,900 shares during the period. Entropy Technologies LP’s holdings in Atkore were worth $749,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ATKR shares. KeyCorp decreased their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. B. Riley lowered shares of 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 research note on Friday, November 22nd. Roth Mkm started coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and reduced their price objective for the company from $115.00 to $65.00 in a research note on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Five equities research 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.17.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $70.98 on Wednesday. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 6.87 and a beta of 2.12. The firm’s 50 day simple moving average is $82.97 and its 200 day simple moving average is $89.45. 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 fifty-two week low of $62.62 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same period last year, the business posted $4.12 earnings per share. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Atkore Inc. will post 6.55 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.80%. Atkore’s payout ratio is 12.39%.

Insiders Place Their Bets

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the sale, the vice president now directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock worth $1,599,200 over the last ninety days. 1.99% of the stock is currently owned by corporate insiders.

Atkore 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.