Atkore Inc. (NYSE:ATKR) Shares Bought by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Atkore Inc. (NYSE:ATKR) by 5.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 140,287 shares of the company’s stock after acquiring an additional 6,967 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Atkore were worth $11,707,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. E. Ohman J or Asset Management AB raised its position in 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 purchasing an additional 113,263 shares during the period. Wellington Management Group LLP purchased a new stake in Atkore in the 3rd quarter valued at about $7,916,000. Y Intercept Hong Kong Ltd lifted its position in 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Atkore by 10.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after buying an additional 134,517 shares during the period. Finally, Barclays PLC increased its position in shares of Atkore by 50.2% during the third quarter. Barclays PLC now owns 70,736 shares of the company’s stock valued at $5,994,000 after acquiring an additional 23,628 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ATKR. KeyCorp decreased their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. 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 report on Monday, February 10th. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, Roth Mkm began coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

Atkore Trading Down 2.0 %

NYSE:ATKR opened at $53.90 on Monday. Atkore Inc. has a 12-month low of $50.40 and a 12-month high of $185.47. The firm has a market cap of $1.87 billion, a PE ratio of 5.22 and a beta of 2.02. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $66.40 and a 200 day moving average price of $79.89.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (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 during the quarter, compared to analysts’ expectations of $680.77 million. During the same quarter last year, the business posted $4.12 EPS. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. Sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.37%. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

Insider Buying and Selling

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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.