Demars Financial Group LLC Invests $2.78 Million in Atkore Inc. (NYSE:ATKR)

Demars Financial Group LLC purchased a new position in shares of Atkore Inc. (NYSE:ATKR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,616 shares of the company’s stock, valued at approximately $2,782,000. Atkore makes up about 1.3% of Demars Financial Group LLC’s holdings, making the stock its 13th largest position.

A number of other institutional investors also recently modified their holdings of ATKR. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Atkore in the 2nd quarter valued at about $17,857,000. Vista Investment Partners LLC grew its position in shares of Atkore by 1.0% in the 2nd quarter. Vista Investment Partners LLC now owns 28,148 shares of the company’s stock valued at $3,798,000 after buying an additional 280 shares during the last quarter. Hedeker Wealth LLC grew its position in shares of Atkore by 29.8% in the 2nd quarter. Hedeker Wealth LLC now owns 11,691 shares of the company’s stock valued at $1,577,000 after buying an additional 2,683 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Atkore in the 2nd quarter valued at about $23,306,000. Finally, Lakewood Asset Management LLC grew its position in shares of Atkore by 31.7% in the 2nd quarter. Lakewood Asset Management LLC now owns 8,834 shares of the company’s stock valued at $1,192,000 after buying an additional 2,124 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ATKR. B. Riley reduced their price target on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. StockNews.com cut Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Citigroup decreased their target price on Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, KeyCorp decreased their target price on Atkore from $175.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $137.00.

Atkore Stock Up 1.6 %

Shares of ATKR stock traded up $1.55 during trading hours on Friday, reaching $95.59. The company had a trading volume of 981,167 shares, compared to its average volume of 616,621. Atkore Inc. has a 12 month low of $91.31 and a 12 month high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98. The business has a fifty day simple moving average of $129.03 and a 200-day simple moving average of $152.11. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 5.96 and a beta of 2.15.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The company had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same quarter last year, the company earned $5.13 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts expect that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.34%. Atkore’s dividend payout ratio (DPR) is currently 7.98%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilbert W. James, Jr. sold 599 shares of Atkore stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the sale, the director now owns 15,695 shares in the company, valued at $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by corporate insiders.

Atkore Company 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.