North Growth Management Ltd. Has $3.12 Million Stake in Atkore Inc. (NYSE:ATKR)

North Growth Management Ltd. cut its holdings in shares of Atkore Inc. (NYSE:ATKR) by 42.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,000 shares of the company’s stock after selling 27,000 shares during the quarter. North Growth Management Ltd.’s holdings in Atkore were worth $3,118,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Lakewood Asset Management LLC boosted its holdings in shares of Atkore by 1.4% during the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after acquiring an additional 126 shares during the period. Willis Investment Counsel boosted its stake in Atkore by 3.3% in the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after purchasing an additional 171 shares during the period. Cornercap Investment Counsel Inc. grew its holdings in Atkore by 3.9% in the 3rd quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock valued at $431,000 after buying an additional 189 shares in the last quarter. Pacer Advisors Inc. increased its position in Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares during the period. Finally, Quarry LP lifted its holdings in shares of Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares in the last quarter.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the transaction, the director now directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,924 shares of company stock valued at $1,614,975. 1.99% of the stock is currently owned by insiders.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $65.30 on Friday. The company’s 50 day simple moving average is $83.46 and its 200 day simple moving average is $90.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore Inc. has a 1 year low of $62.62 and a 1 year high of $194.98. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 6.32 and a beta of 2.12.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. 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 company posted $4.12 EPS. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, research analysts predict that Atkore Inc. will post 6.55 EPS for the current fiscal year.

Atkore Announces Dividend

The business 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 $0.32 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.96%. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

Analyst Ratings Changes

ATKR has been the topic of a number of recent research reports. KeyCorp lowered their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday. Roth Mkm initiated 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 reiterated a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.50.

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.