MYDA Advisors LLC Invests $436,000 in Atkore Inc. (NYSE:ATKR)

MYDA Advisors LLC purchased a new stake in Atkore Inc. (NYSE:ATKR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,228 shares of the company’s stock, valued at approximately $436,000.

A number of other institutional investors have also recently modified their holdings of the business. MetLife Investment Management LLC lifted its holdings in Atkore by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 21,357 shares of the company’s stock valued at $1,782,000 after acquiring an additional 171 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Atkore in the fourth quarter valued at about $847,000. Dimensional Fund Advisors LP lifted its stake in shares of Atkore by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company’s stock valued at $91,028,000 after purchasing an additional 6,234 shares during the period. First Trust Advisors LP boosted its holdings in Atkore by 195.6% during the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock worth $98,009,000 after buying an additional 777,113 shares in the last quarter. Finally, Capital International Investors grew its position in Atkore by 82.6% during the fourth quarter. Capital International Investors now owns 192,220 shares of the company’s stock worth $16,041,000 after buying an additional 86,975 shares during the period.

Atkore Stock Up 1.3 %

ATKR opened at $58.47 on Friday. The firm has a market cap of $2.03 billion, a P/E ratio of 5.66 and a beta of 2.02. The business’s fifty day simple moving average is $62.21 and its 200 day simple moving average is $77.58. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $185.42. 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 issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same period in the previous year, the firm posted $4.12 earnings per share. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.19%. Atkore’s payout ratio is currently 12.39%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup decreased their price target on Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, KeyCorp dropped their price target on Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.17.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.99% of the stock is currently owned by company insiders.

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.