Shay Capital LLC Buys Shares of 10,500 Atkore Inc. (NYSE:ATKR)

Shay Capital LLC purchased a new position in Atkore Inc. (NYSE:ATKR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,500 shares of the company’s stock, valued at approximately $876,000.

A number of other large investors also recently modified their holdings of ATKR. Lakewood Asset Management LLC increased its holdings in Atkore by 1.4% during the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after acquiring an additional 126 shares during the period. Van Den Berg Management I Inc. increased its holdings in shares of Atkore by 0.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company’s stock worth $3,425,000 after purchasing an additional 158 shares during the period. Isthmus Partners LLC raised its position in shares of Atkore by 0.8% in the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock worth $1,789,000 after buying an additional 162 shares in the last quarter. Xponance Inc. boosted its stake in Atkore by 6.9% during the fourth quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after buying an additional 166 shares during the period. Finally, Willis Investment Counsel boosted its stake in Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after buying an additional 171 shares during the period.

Atkore Trading Up 0.3%

ATKR stock opened at $69.58 on Friday. The company has a market capitalization of $2.34 billion, a PE ratio of 6.74 and a beta of 2.10. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a one year low of $49.92 and a one year high of $158.20. The company’s 50 day moving average price is $62.21 and its two-hundred day moving average price is $74.92.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 12.42% and a return on equity of 25.69%. The firm’s revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.08 EPS. As a group, analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, May 16th. This is a positive change from Atkore’s previous quarterly dividend of $0.32. Atkore’s payout ratio is 25.38%.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the transaction, the insider now directly owns 32,828 shares of the company’s stock, valued at $2,270,384.48. The trade was a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ATKR shares. StockNews.com raised Atkore from a “hold” rating to a “buy” rating in a report on Monday. Royal Bank of Canada raised their target price on shares of Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. KeyCorp boosted their price target on shares of Atkore from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Citigroup decreased their price target on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.57.

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.