Intech Investment Management LLC Has $1.54 Million Stock Position in Atkore Inc. (NYSE:ATKR)

Intech Investment Management LLC grew its stake in shares of Atkore Inc. (NYSE:ATKR) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,391 shares of the company’s stock after purchasing an additional 3,358 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Atkore worth $1,535,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of Atkore by 5.6% during the 3rd quarter. Empowered Funds LLC now owns 16,984 shares of the company’s stock worth $1,439,000 after acquiring an additional 896 shares during the period. Quest Partners LLC boosted its stake in shares of Atkore by 78.7% during the 3rd quarter. Quest Partners LLC now owns 8,235 shares of the company’s stock worth $698,000 after acquiring an additional 3,627 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Atkore by 396.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 102,180 shares of the company’s stock worth $8,659,000 after acquiring an additional 81,605 shares during the period. Citigroup Inc. boosted its stake in shares of Atkore by 56.8% during the 3rd quarter. Citigroup Inc. now owns 47,241 shares of the company’s stock worth $4,003,000 after acquiring an additional 17,106 shares during the period. Finally, Algert Global LLC boosted its stake in shares of Atkore by 331.6% during the 3rd quarter. Algert Global LLC now owns 125,894 shares of the company’s stock worth $10,668,000 after acquiring an additional 96,724 shares during the period.

Atkore Stock Performance

NYSE:ATKR opened at $62.93 on Friday. The stock has a fifty day moving average price of $71.36 and a 200-day moving average price of $81.70. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 6.09 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 25.69% and a net margin of 12.42%. The company’s revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.12 EPS. As a group, equities analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.03%. Atkore’s payout ratio is 12.39%.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction 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 transaction, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ATKR. KeyCorp reduced their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Royal Bank of Canada restated 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. 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 for the company. Finally, B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Five 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.17.

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.