Meeder Asset Management Inc. Buys 5,192 Shares of Atkore Inc. (NYSE:ATKR)

Meeder Asset Management Inc. lifted its stake in shares of Atkore Inc. (NYSE:ATKR) by 306.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,884 shares of the company’s stock after purchasing an additional 5,192 shares during the quarter. Meeder Asset Management Inc.’s holdings in Atkore were worth $574,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares in the last quarter. Quarry LP grew its holdings in shares of Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after acquiring an additional 195 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ATKR shares. Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and decreased their price target for the stock from $115.00 to $65.00 in a report on Monday, February 10th. KeyCorp dropped their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Finally, Roth Mkm assumed coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price for the company. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Atkore currently has an average rating of “Moderate Buy” and an average target price of $103.17.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.99% of the stock is currently owned by company insiders.

Atkore Price Performance

Shares of NYSE:ATKR opened at $60.25 on Tuesday. The company has a market capitalization of $2.09 billion, a P/E ratio of 5.83 and a beta of 2.22. The company’s 50-day moving average is $68.73 and its 200 day moving average is $80.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same period in the previous year, the company earned $4.12 earnings per share. The company’s quarterly revenue was down 17.1% on a year-over-year basis. On average, equities research analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is currently 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.