EP Wealth Advisors LLC Has $615,000 Stock Position in Atkore Inc. (NYSE:ATKR)

EP Wealth Advisors LLC lifted its position in shares of Atkore Inc. (NYSE:ATKR) by 3.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,364 shares of the company’s stock after buying an additional 276 shares during the quarter. EP Wealth Advisors LLC’s holdings in Atkore were worth $615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. E. Ohman J or Asset Management AB lifted its holdings in shares of Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after buying an additional 113,263 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after purchasing an additional 134,517 shares in the last quarter. Barclays PLC raised its stake in Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company’s stock valued at $5,994,000 after purchasing an additional 23,628 shares in the last quarter. Swedbank AB raised its stake in Atkore by 18.4% in the fourth quarter. Swedbank AB now owns 296,791 shares of the company’s stock valued at $24,767,000 after purchasing an additional 46,200 shares in the last quarter. Finally, Principal Financial Group Inc. raised 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 valued at $4,687,000 after purchasing an additional 8,343 shares in the last quarter.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the sale, the insider now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of analyst reports. KeyCorp boosted their price target on Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Royal Bank of Canada boosted their price target on Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. Citigroup dropped their price target on Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Roth Capital set a $78.00 price target on Atkore and gave the company a “buy” rating in a research note on Wednesday. Finally, Loop Capital cut Atkore from a “buy” rating to a “hold” rating and decreased their target price for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Atkore has a consensus rating of “Hold” and an average target price of $77.57.

Atkore Stock Performance

Atkore stock opened at $67.95 on Monday. The stock has a market cap of $2.36 billion, a PE ratio of 6.58 and a beta of 2.10. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $61.77 and its two-hundred day moving average price is $75.23. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $159.30.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.52. The company had revenue of $701.73 million for the quarter, compared to analysts’ expectations of $690.83 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.08 earnings per share. As a group, analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.33 per share. This is a boost from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, May 16th. Atkore’s payout ratio is 25.38%.

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.