North Growth Management Ltd. Has $3.12 Million Stake in Atkore Inc. (NYSE:ATKR)

North Growth Management Ltd. lowered its stake in Atkore Inc. (NYSE:ATKR) by 42.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,000 shares of the company’s stock after selling 27,000 shares during the period. North Growth Management Ltd. owned 0.11% of Atkore worth $3,118,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Signaturefd LLC grew its position in shares of Atkore by 445.6% during 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 period. Quarry LP grew its holdings in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after acquiring an additional 208 shares during the period. Pacer Advisors Inc. raised its position in shares of Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after acquiring an additional 195 shares during the last quarter. Covestor Ltd lifted its stake in shares of Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after purchasing an additional 390 shares during the period. Finally, KBC Group NV boosted its position in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after purchasing an additional 469 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. KeyCorp reduced their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Loop Capital decreased their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Roth Mkm started coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $111.50.

Atkore Stock Down 0.4 %

Shares of ATKR stock opened at $65.30 on Friday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 6.32 and a beta of 2.12. Atkore Inc. has a 12-month low of $62.62 and a 12-month high of $194.98. The firm has a fifty day moving average of $83.46 and a 200-day moving average of $90.59. 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 released its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.12 EPS. As a group, equities research analysts predict that Atkore Inc. will post 6.55 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.96%. The ex-dividend date is Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

Insiders Place Their Bets

In related news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the sale, the vice president now owns 27,528 shares in the company, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now directly owns 25,585 shares of the company’s stock, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock valued at $1,614,975 in the last quarter. 1.99% of the stock is currently owned by 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.