Denali Advisors LLC Sells 1,600 Shares of Atkore Inc. (NYSE:ATKR)

Denali Advisors LLC lowered its stake in shares of Atkore Inc. (NYSE:ATKR) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,000 shares of the company’s stock after selling 1,600 shares during the quarter. Denali Advisors LLC’s holdings in Atkore were worth $4,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ATKR. Bank of New York Mellon Corp grew its position 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 worth $20,580,000 after purchasing an additional 110,107 shares in the last quarter. Alberta Investment Management Corp boosted its stake in shares of Atkore by 16.0% in the 4th quarter. Alberta Investment Management Corp now owns 24,600 shares of the company’s stock worth $2,053,000 after buying an additional 3,400 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Atkore by 1.7% in the fourth quarter. New York State Common Retirement Fund now owns 60,341 shares of the company’s stock valued at $5,035,000 after acquiring an additional 1,035 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Atkore by 17.4% during the fourth quarter. Principal Financial Group Inc. now owns 56,168 shares of the company’s stock valued at $4,687,000 after acquiring an additional 8,343 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Atkore by 22.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 24,318 shares of the company’s stock worth $2,029,000 after acquiring an additional 4,514 shares during the period.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. KeyCorp reduced their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, 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 note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

Atkore Price Performance

Shares of NYSE:ATKR opened at $63.71 on Wednesday. The firm has a market capitalization of $2.21 billion, a PE ratio of 6.17 and a beta of 2.12. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $78.96 and a two-hundred day moving average price of $85.81. Atkore Inc. has a twelve month low of $62.62 and a twelve month high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same period in the prior year, the company posted $4.12 EPS. Atkore’s revenue was down 17.1% compared to the same quarter last year. Equities analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is presently 12.39%.

Insider Activity at Atkore

In related news, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction that occurred on 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. This represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on 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 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. 1.99% 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.