Empowered Funds LLC Has $2.85 Million Stake in Atkore Inc. (NYSE:ATKR)

Empowered Funds LLC grew its holdings in shares of Atkore Inc. (NYSE:ATKR) by 101.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,134 shares of the company’s stock after acquiring an additional 17,150 shares during the period. Empowered Funds LLC owned 0.10% of Atkore worth $2,848,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ATKR. E. Ohman J or Asset Management AB grew its stake in Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after purchasing an additional 113,263 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Atkore by 44.9% during the 4th quarter. Boston Trust Walden Corp now owns 272,939 shares of the company’s stock worth $22,777,000 after buying an additional 84,584 shares in the last quarter. Willis Investment Counsel grew its position in shares of Atkore by 3.3% during the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock worth $446,000 after buying an additional 171 shares during the period. Swedbank AB increased its stake in shares of 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 acquiring an additional 46,200 shares in the last quarter. Finally, Twelve Points Wealth Management LLC lifted its position in shares of Atkore by 9.8% during the 4th quarter. Twelve Points Wealth Management LLC now owns 18,723 shares of the company’s stock valued at $1,562,000 after acquiring an additional 1,673 shares during the period.

Wall Street Analyst Weigh In

ATKR has been the subject of a number of research reports. KeyCorp reduced their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $65.00 in a research note on Monday. Roth Mkm initiated coverage on Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Atkore currently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

Atkore Stock Performance

NYSE ATKR opened at $69.99 on Friday. The firm has a market cap of $2.43 billion, a P/E ratio of 6.78 and a beta of 2.12. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $82.02 and its 200-day moving average is $88.83. Atkore Inc. has a 12-month low of $62.62 and a 12-month high of $194.98.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The business 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%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.12 EPS. Sell-side analysts predict that Atkore Inc. will post 6.55 earnings per share for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.83%. Atkore’s dividend payout ratio is currently 12.39%.

Insider Buying and Selling at Atkore

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the transaction, the vice president now directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the transaction, the insider now owns 33,760 shares of the company’s stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock valued at $1,599,200 in the last quarter. 1.99% of the stock is currently owned by corporate insiders.

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.