Atkore Inc. (NYSE:ATKR) Shares Bought by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC grew its holdings in Atkore Inc. (NYSE:ATKR) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 140,287 shares of the company’s stock after acquiring an additional 6,967 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.40% of Atkore worth $11,707,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in Atkore by 10.9% in the 4th 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 in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Atkore by 549.9% during the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock worth $50,658,000 after purchasing an additional 513,631 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Atkore by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock valued at $44,243,000 after acquiring an additional 50,194 shares during the period. Norges Bank purchased a new stake in shares of Atkore in the 4th quarter valued at $42,339,000. Finally, Victory Capital Management Inc. increased its stake in shares of Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock worth $39,291,000 after acquiring an additional 459,200 shares during the period.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several 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 report on Wednesday, February 5th. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Roth Mkm began coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.17.

Atkore Stock Performance

Shares of ATKR stock opened at $53.90 on Monday. 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 Inc. has a 12-month low of $50.40 and a 12-month high of $185.47. The business’s 50 day moving average is $66.40 and its two-hundred day moving average is $79.89. The company has a market capitalization of $1.87 billion, a P/E ratio of 5.22 and a beta of 2.02.

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

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.37%. Atkore’s dividend payout ratio is currently 12.39%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the 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 completion of the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.99% of the company’s stock.

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.