MYDA Advisors LLC Acquires Shares of 5,228 Atkore Inc. (NYSE:ATKR)

MYDA Advisors LLC bought a new position in Atkore Inc. (NYSE:ATKR) in the 4th quarter, Holdings Channel.com reports. The firm bought 5,228 shares of the company’s stock, valued at approximately $436,000.

A number of other large investors have also modified their holdings of the stock. E. Ohman J or Asset Management AB boosted its holdings in Atkore by 55.2% in the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after acquiring an additional 113,263 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after purchasing an additional 134,517 shares in the last quarter. Barclays PLC increased its stake in Atkore by 50.2% during the 3rd quarter. Barclays PLC now owns 70,736 shares of the company’s stock worth $5,994,000 after buying an additional 23,628 shares during the period. Tidal Investments LLC lifted its holdings in Atkore by 38.7% in the 3rd quarter. Tidal Investments LLC now owns 23,744 shares of the company’s stock worth $2,012,000 after buying an additional 6,628 shares in the last quarter. Finally, Swedbank AB boosted its position in Atkore by 18.4% in the 4th quarter. Swedbank AB now owns 296,791 shares of the company’s stock valued at $24,767,000 after buying an additional 46,200 shares during the last quarter.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of Atkore 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup dropped their target price on Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and cut their target price for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, KeyCorp decreased their price target on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Five 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.17.

Atkore Stock Up 1.3 %

Shares of NYSE:ATKR opened at $58.47 on Friday. The company’s fifty day moving average is $62.21 and its two-hundred day moving average is $77.58. 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 1-year low of $49.92 and a 1-year high of $185.42. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 5.66 and a beta of 2.02.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 12.42% and a return on equity of 25.69%. Atkore’s revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the company posted $4.12 earnings per share. Equities analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Tuesday, February 18th. 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.