Ruffer LLP Makes New $4.06 Million Investment in Atkore Inc. (NYSE:ATKR)

Ruffer LLP bought a new position in shares of Atkore Inc. (NYSE:ATKR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 48,660 shares of the company’s stock, valued at approximately $4,061,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after acquiring an additional 459,200 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atkore by 10.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after purchasing an additional 134,517 shares during the last quarter. E. Ohman J or Asset Management AB boosted its position 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 purchasing an additional 113,263 shares during the period. Bank of New York Mellon Corp grew its stake in Atkore by 80.7% during the 4th quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company’s stock worth $20,580,000 after buying an additional 110,107 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Atkore during the fourth quarter worth approximately $8,524,000.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp lowered their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $65.00 in a report on Monday, February 10th. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Five equities research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was 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. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.99% of the company’s stock.

Atkore Trading Up 0.4 %

NYSE ATKR opened at $64.96 on Friday. Atkore Inc. has a 52-week low of $55.91 and a 52-week high of $194.98. The firm has a 50-day moving average price of $75.19 and a 200 day moving average price of $83.83. The stock has a market capitalization of $2.26 billion, a P/E ratio of 6.29 and a beta of 2.22. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

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

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Atkore’s dividend payout ratio (DPR) is presently 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.