Ifrah Financial Services Inc. Trims Stake in Atkore Inc. (NYSE:ATKR)

Ifrah Financial Services Inc. reduced its position in shares of Atkore Inc. (NYSE:ATKR) by 3.1% in the fourth quarter, Holdings Channel reports. The firm owned 5,038 shares of the company’s stock after selling 160 shares during the period. Ifrah Financial Services Inc.’s holdings in Atkore were worth $420,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ATKR. Signaturefd LLC grew its position in shares of Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares in the last quarter. Quarry LP grew its position in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after acquiring an additional 208 shares in the last quarter. Pacer Advisors Inc. grew its position in Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after acquiring an additional 195 shares in the last quarter. Covestor Ltd grew its position in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after acquiring an additional 390 shares in the last quarter. Finally, KBC Group NV grew its position in Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. KeyCorp cut their target price 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. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Atkore currently has an average rating of “Moderate Buy” and an average target price of $103.17.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $72.54 on Monday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 7.02 and a beta of 2.12. The company has a 50-day moving average price of $81.29 and a 200-day moving average price of $87.60. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 12 month low of $62.62 and a 12 month high of $194.98.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.12 earnings per share. As a group, equities analysts anticipate that Atkore Inc. will post 6.55 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, February 18th. Atkore’s payout ratio is currently 12.39%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total value 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 $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock valued at $1,599,200 over the last three months. Corporate insiders own 1.99% of the company’s stock.

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.