Quest Partners LLC Purchases 1,665 Shares of Atkore Inc. (NYSE:ATKR)

Quest Partners LLC raised its position in Atkore Inc. (NYSE:ATKR) by 56.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,608 shares of the company’s stock after purchasing an additional 1,665 shares during the period. Quest Partners LLC’s holdings in Atkore were worth $622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ATKR. ICA Group Wealth Management LLC acquired a new position in shares of Atkore in the fourth quarter valued at about $25,000. LifeSteps Financial Inc. bought a new stake in Atkore in the 1st quarter valued at about $33,000. Global Retirement Partners LLC boosted its holdings in Atkore by 405.1% in the 1st quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock valued at $38,000 after purchasing an additional 158 shares during the period. Mather Group LLC. grew its position in shares of Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after purchasing an additional 421 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Atkore during the fourth quarter worth approximately $66,000.

Analyst Ratings Changes

Several brokerages recently issued reports on ATKR. Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. B. Riley reduced their target price on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, KeyCorp decreased their price target on Atkore from $175.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Atkore currently has a consensus rating of “Hold” and an average target price of $137.00.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $82.78 on Thursday. The company’s 50 day simple moving average is $113.25 and its 200 day simple moving average is $145.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. Atkore Inc. has a 1 year low of $80.11 and a 1 year high of $194.98. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 5.16 and a beta of 2.15.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. 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 posted $5.13 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts predict that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.55%. Atkore’s dividend payout ratio (DPR) is currently 7.98%.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.56% 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.