Pacer Advisors Inc. Buys 195 Shares of Atkore Inc. (NYSE:ATKR)

Pacer Advisors Inc. increased its stake in Atkore Inc. (NYSE:ATKR) by 30.2% during the fourth quarter, HoldingsChannel reports. The firm owned 841 shares of the company’s stock after acquiring an additional 195 shares during the period. Pacer Advisors Inc.’s holdings in Atkore were worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Atkore by 26.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after purchasing an additional 261,234 shares during the period. Royce & Associates LP raised its holdings in shares of Atkore by 20.2% in the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after purchasing an additional 66,533 shares during the period. E. Ohman J or Asset Management AB raised its holdings in shares of Atkore by 3.7% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 205,125 shares of the company’s stock worth $17,382,000 after purchasing an additional 7,256 shares during the period. Boston Trust Walden Corp raised its holdings in shares of Atkore by 9.0% in the 3rd quarter. Boston Trust Walden Corp now owns 188,355 shares of the company’s stock worth $15,961,000 after purchasing an additional 15,626 shares during the period. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Atkore by 53.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 160,117 shares of the company’s stock worth $13,568,000 after purchasing an additional 55,841 shares during the period.

Atkore Trading Down 19.3 %

Atkore stock opened at $64.37 on Wednesday. The stock has a market cap of $2.23 billion, a P/E ratio of 5.10 and a beta of 2.12. Atkore Inc. has a fifty-two week low of $62.62 and a fifty-two week high of $194.98. The firm’s fifty day moving average price is $85.16 and its 200-day moving average price is $91.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business’s quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.12 earnings per share. Equities research analysts forecast that Atkore Inc. will post 6.62 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given 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 1.99%. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the sale, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,924 shares of company stock worth $1,614,975. Corporate insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ATKR. Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Loop Capital lowered their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

About Atkore

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.