Meixler Investment Management Ltd. Increases Stake in Atkore Inc. (NYSE:ATKR)

Meixler Investment Management Ltd. boosted its stake in shares of Atkore Inc. (NYSE:ATKR) by 27.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,164 shares of the company’s stock after acquiring an additional 1,108 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Atkore were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. E. Ohman J or Asset Management AB increased its position in shares of Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after buying an additional 113,263 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Atkore in the third quarter valued at approximately $7,916,000. Chase Investment Counsel Corp increased its position in shares of Atkore by 97.0% in the third quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock valued at $1,101,000 after buying an additional 6,400 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Atkore by 729.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock valued at $2,358,000 after buying an additional 24,476 shares in the last quarter. Finally, M&G PLC purchased a new stake in shares of Atkore in the third quarter valued at approximately $9,123,000.

Insider Activity at Atkore

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated 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 owns 27,528 shares in the company, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the sale, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,924 shares of company stock worth $1,599,200. 1.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ATKR has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Capital raised Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their price target for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. B. Riley lowered 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. Finally, Roth Mkm assumed coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Atkore has an average rating of “Moderate Buy” and a consensus price target of $103.17.

Atkore Stock Performance

Shares of Atkore stock opened at $72.54 on Friday. Atkore Inc. has a 52 week low of $62.62 and a 52 week high of $194.98. The business’s fifty day simple moving average is $81.29 and its 200-day simple moving average is $87.93. The firm has a market cap of $2.52 billion, a PE ratio of 7.02 and a beta of 2.12. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS 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 business had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the prior year, the company posted $4.12 EPS. The company’s quarterly revenue was down 17.1% on a year-over-year basis. Equities analysts forecast that Atkore Inc. will post 6.55 earnings per share for the current year.

Atkore Dividend Announcement

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

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.