EMC Capital Management Has $459,000 Holdings in Atkore Inc. (NYSE:ATKR)

EMC Capital Management lowered its stake in shares of Atkore Inc. (NYSE:ATKR) by 21.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,499 shares of the company’s stock after selling 1,460 shares during the period. EMC Capital Management’s holdings in Atkore were worth $459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Atkore during the second quarter worth about $57,000. Signaturefd LLC boosted its stake in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after buying an additional 401 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after acquiring an additional 195 shares in the last quarter. Covestor Ltd increased its position in shares of Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after acquiring an additional 390 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares during the period.

Insider Activity

In other news, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the completion of the transaction, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. The trade was a 32.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock worth $1,614,975 over the last ninety days. Company insiders own 1.99% of the company’s stock.

Atkore Stock Performance

Shares of ATKR stock opened at $81.61 on Thursday. The firm’s 50 day moving average is $86.31 and its 200 day moving average is $93.89. The stock has a market capitalization of $2.83 billion, a P/E ratio of 6.45 and a beta of 2.13. Atkore Inc. has a 12 month low of $76.01 and a 12 month high of $194.98. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). The company had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.63 EPS. On average, sell-side analysts anticipate that Atkore Inc. will post 6.62 earnings per share for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, December 6th. Atkore’s payout ratio is presently 10.13%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ATKR shares. Roth Mkm assumed coverage on Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, Loop Capital dropped their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

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.