Alberta Investment Management Corp Grows Stock Position in Atkore Inc. (NYSE:ATKR)

Alberta Investment Management Corp boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,600 shares of the company’s stock after buying an additional 3,400 shares during the quarter. Alberta Investment Management Corp owned 0.07% of Atkore worth $2,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ATKR. New York State Common Retirement Fund raised 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 worth $5,035,000 after buying an additional 1,035 shares during the period. Principal Financial Group Inc. increased its stake in Atkore by 17.4% in the fourth quarter. Principal Financial Group Inc. now owns 56,168 shares of the company’s stock worth $4,687,000 after purchasing an additional 8,343 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of 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 purchasing an additional 4,514 shares during the last quarter. Meixler Investment Management Ltd. boosted its stake in shares of Atkore by 27.3% during the fourth quarter. Meixler Investment Management Ltd. now owns 5,164 shares of the company’s stock valued at $431,000 after purchasing an additional 1,108 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after purchasing an additional 134,517 shares during the last quarter.

Analyst Ratings Changes

ATKR has been the subject of a number of research analyst reports. Roth Mkm started coverage on shares of Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their price target for the company from $115.00 to $65.00 in a report on Monday, February 10th. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. 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 report on Wednesday, December 4th. Finally, KeyCorp cut their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Atkore presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

Insider Buying and Selling

In related news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated 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 directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock worth $1,599,200 in the last 90 days. 1.99% of the stock is owned by corporate insiders.

Atkore Stock Down 2.4 %

Shares of NYSE ATKR opened at $65.68 on Friday. Atkore Inc. has a 12-month low of $62.62 and a 12-month high of $194.98. The stock’s fifty day simple moving average is $79.75 and its two-hundred day simple moving average is $86.57. The stock has a market capitalization of $2.28 billion, a PE ratio of 6.36 and a beta of 2.12. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last issued 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. 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% compared to the same quarter last year. During the same quarter last year, the company earned $4.12 earnings per share. As a group, analysts expect that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 1.95%. 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.