Chou Associates Management Inc. Takes Position in Atkore Inc. $ATKR

Chou Associates Management Inc. purchased a new stake in Atkore Inc. (NYSE:ATKR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,400 shares of the company’s stock, valued at approximately $639,000. Atkore comprises 0.3% of Chou Associates Management Inc.’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors have also recently modified their holdings of ATKR. BlackRock Inc. acquired a new stake in Atkore during the 2nd quarter valued at $236,958,000. First Trust Advisors LP lifted its position in shares of Atkore by 18.7% in the fourth quarter. First Trust Advisors LP now owns 1,385,741 shares of the company’s stock valued at $87,648,000 after acquiring an additional 218,358 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Atkore by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock valued at $72,341,000 after acquiring an additional 97,514 shares in the last quarter. LSV Asset Management boosted its stake in shares of Atkore by 5.8% during the fourth quarter. LSV Asset Management now owns 960,450 shares of the company’s stock valued at $60,748,000 after acquiring an additional 52,850 shares during the last quarter. Finally, Coliseum Capital Management LLC purchased a new stake in shares of Atkore during the fourth quarter worth about $51,189,000.

Atkore Stock Up 0.1%

Shares of ATKR opened at $93.62 on Friday. Atkore Inc. has a fifty-two week low of $53.75 and a fifty-two week high of $94.14. The company’s fifty day moving average is $80.32 and its two-hundred day moving average is $73.19. The firm has a market cap of $3.16 billion, a PE ratio of -19.46 and a beta of 1.68. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.39. The business had revenue of $794.80 million during the quarter, compared to the consensus estimate of $756.23 million. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.During the same period in the prior year, the firm posted $2.17 EPS. Analysts forecast that Atkore Inc. will post 5.15 earnings per share for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore’s dividend payout ratio (DPR) is -27.44%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 300 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the sale, the insider owned 35,803 shares in the company, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on ATKR. Citigroup lifted their target price on shares of Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Royal Bank Of Canada set a $76.00 price objective on Atkore in a research report on Thursday, July 16th. Weiss Ratings upgraded Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Finally, Roth Capital downgraded Atkore from a “buy” rating to a “neutral” rating and increased their target price for the stock from $85.00 to $92.00 in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Atkore has an average rating of “Hold” and a consensus price target of $143.33.

About Atkore

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.