Atkore Inc. (NYSE:ATKR) Shares Purchased by KBC Group NV

KBC Group NV raised its position in shares of Atkore Inc. (NYSE:ATKR) by 47.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,452 shares of the company’s stock after purchasing an additional 469 shares during the quarter. KBC Group NV’s holdings in Atkore were worth $121,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its position in Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after buying an additional 401 shares during the last quarter. Quarry LP lifted its position in Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares during the period. Covestor Ltd boosted its holdings in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after purchasing an additional 390 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in shares of Atkore during the 3rd quarter valued at about $126,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Atkore in the 3rd quarter valued at about $143,000.

Atkore Stock Performance

NYSE ATKR opened at $65.30 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The stock’s 50 day simple moving average is $84.05 and its 200-day simple moving average is $91.14. The company has a market cap of $2.27 billion, a PE ratio of 5.17 and a beta of 2.12. Atkore Inc. has a 1-year low of $62.62 and a 1-year high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data 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 return on equity of 32.14% and a net margin of 14.77%. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same quarter last year, the firm posted $4.12 EPS. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, equities research analysts anticipate that Atkore Inc. will post 6.62 EPS for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.96%. Atkore’s payout ratio is presently 10.13%.

Analysts Set New Price Targets

ATKR has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Loop Capital lowered their price target on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. KeyCorp reduced their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Atkore currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.50.

Insider Activity at Atkore

In other news, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. The trade was a 32.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 of the company’s stock, valued at $2,667,290.30. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,924 shares of company stock valued at $1,614,975. Corporate insiders own 1.99% of the company’s stock.

Atkore Company 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.