Silver Coast Investments LLC Grows Stock Holdings in Atkore Inc. (NYSE:ATKR)

Silver Coast Investments LLC lifted its holdings in Atkore Inc. (NYSE:ATKR) by 5.5% during the fourth quarter, Holdings Channel reports. The fund owned 5,465 shares of the company’s stock after buying an additional 287 shares during the quarter. Silver Coast Investments LLC’s holdings in Atkore were worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its holdings in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in shares of Atkore by 15.4% in the fourth quarter. Chase Investment Counsel Corp now owns 15,000 shares of the company’s stock worth $1,251,000 after buying an additional 2,000 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Atkore during the fourth quarter worth about $898,000. Bank of New York Mellon Corp grew its holdings in Atkore by 80.7% during the fourth quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company’s stock worth $20,580,000 after acquiring an additional 110,107 shares during the period. Finally, Alberta Investment Management Corp raised its position in Atkore by 16.0% during the fourth quarter. Alberta Investment Management Corp now owns 24,600 shares of the company’s stock valued at $2,053,000 after acquiring an additional 3,400 shares in the last quarter.

Insider Buying and Selling at Atkore

In other Atkore news, 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 in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. This represents 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 insiders.

Atkore Stock Performance

ATKR opened at $61.51 on Monday. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 5.95 and a beta of 2.12. The firm’s fifty day simple moving average is $77.31 and its two-hundred day simple moving average is $84.92. 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 Inc. has a 52-week low of $60.53 and a 52-week high of $194.98.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $680.77 million. During the same period in the previous year, the firm posted $4.12 EPS. Atkore’s revenue was down 17.1% compared to the same quarter last year. Equities analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s dividend payout ratio is currently 12.39%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. 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 report on Wednesday, February 5th. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Five investment 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 stock. According to data from MarketBeat, Atkore presently has an average rating of “Moderate Buy” and an average price target of $103.17.

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.