Inceptionr LLC Acquires 2,715 Shares of Atkore Inc. (NYSE:ATKR)

Inceptionr LLC grew its holdings in shares of Atkore Inc. (NYSE:ATKR) by 72.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,462 shares of the company’s stock after purchasing an additional 2,715 shares during the quarter. Inceptionr LLC’s holdings in Atkore were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. grew its stake in Atkore by 3,948.4% in the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after buying an additional 459,200 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Atkore by 10.9% in 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 buying an additional 134,517 shares during the last quarter. E. Ohman J or Asset Management AB grew its stake 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 valued at $26,569,000 after buying an additional 113,263 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Atkore by 80.7% in the 4th quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company’s stock valued at $20,580,000 after buying an additional 110,107 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Atkore in the 4th quarter valued at $8,524,000.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ATKR has been the topic of a number of research analyst reports. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. KeyCorp decreased their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Loop Capital lowered shares of 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 research report on Monday, February 10th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, Roth Mkm assumed coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Five equities research 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 data from MarketBeat, Atkore currently has an average rating of “Moderate Buy” and an average price target of $103.17.

Atkore Price Performance

NYSE:ATKR opened at $64.96 on Friday. The company has a 50-day moving average of $75.19 and a 200-day moving average of $83.83. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 6.29 and a beta of 2.22. Atkore Inc. has a 52 week low of $55.91 and a 52 week high of $194.98. 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 (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the firm earned $4.12 EPS. As a group, equities research analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s payout ratio is 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.