Entropy Technologies LP Sells 1,900 Shares of Atkore Inc. (NYSE:ATKR)

Entropy Technologies LP lessened its position in Atkore Inc. (NYSE:ATKR) by 17.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,981 shares of the company’s stock after selling 1,900 shares during the quarter. Entropy Technologies LP’s holdings in Atkore were worth $749,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. E. Ohman J or Asset Management AB grew its holdings in shares of 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 acquiring an additional 113,263 shares in the last quarter. Wellington Management Group LLP bought a new position in Atkore in the third quarter valued at approximately $7,916,000. Chase Investment Counsel Corp grew its stake in Atkore by 97.0% in the third quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock valued at $1,101,000 after purchasing an additional 6,400 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Atkore by 729.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock worth $2,358,000 after purchasing an additional 24,476 shares during the last quarter. Finally, M&G PLC bought a new stake in shares of Atkore during the 3rd quarter worth approximately $9,123,000.

Analyst Ratings Changes

Several research firms recently weighed in on ATKR. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and decreased their target price for the company from $115.00 to $65.00 in a research note on Monday. Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and cut their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. KeyCorp reduced their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.17.

Insider Transactions at Atkore

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the firm’s 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. This trade represents a 32.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction 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 sale, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,924 shares of company stock valued at $1,599,200. 1.99% of the stock is currently owned by corporate insiders.

Atkore Stock Up 2.2 %

Shares of ATKR opened at $70.98 on Wednesday. The firm has a market cap of $2.46 billion, a P/E ratio of 6.87 and a beta of 2.12. 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 52 week low of $62.62 and a 52 week high of $194.98. The firm’s 50-day simple moving average is $82.97 and its 200 day simple moving average is $89.45.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.12 earnings per share. On average, analysts forecast that Atkore Inc. will post 6.55 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, February 18th. Atkore’s dividend payout ratio is currently 12.39%.

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.