Quantbot Technologies LP Acquires 50,152 Shares of Atkore Inc. (NYSE:ATKR)

Quantbot Technologies LP increased its stake in Atkore Inc. (NYSE:ATKR) by 138.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 86,283 shares of the company’s stock after buying an additional 50,152 shares during the quarter. Quantbot Technologies LP owned 0.25% of Atkore worth $7,200,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after acquiring an additional 186 shares during the last quarter. Quarry LP lifted its stake in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares during the last quarter. Pacer Advisors Inc. grew its holdings 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 during the period. Harbour Investments Inc. increased its position in Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after buying an additional 469 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Roth Mkm initiated coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.17.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.99% of the stock is currently owned by insiders.

Atkore Trading Down 1.6 %

Shares of ATKR stock opened at $62.93 on Friday. Atkore Inc. has a 52-week low of $55.91 and a 52-week high of $194.98. The business’s fifty day moving average is $71.36 and its 200 day moving average is $81.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The company has a market capitalization of $2.19 billion, a PE ratio of 6.09 and a beta of 2.22.

Atkore (NYSE:ATKR) last released its quarterly 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. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted $4.12 EPS. On average, equities research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed 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. This represents a $1.28 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

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.