5,000 Shares in Atkore Inc. (NYSE:ATKR) Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC bought a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,000 shares of the company's stock, valued at approximately $417,000.

Other large investors have also recently added to or reduced their stakes in the company. E. Ohman J or Asset Management AB increased its position in Atkore by 55.2% in the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock valued at $26,569,000 after acquiring an additional 113,263 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Atkore by 10.9% during the 4th 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 boosted its stake in Atkore by 50.2% during the 3rd 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 boosted its stake in Atkore by 18.4% during the 4th 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. boosted its stake in Atkore by 17.4% during the 4th 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.

Atkore Stock Down 0.2%

Shares of Atkore stock traded down $0.15 during midday trading on Tuesday, hitting $68.46. The company's stock had a trading volume of 33,852 shares, compared to its average volume of 681,772. The firm has a market capitalization of $2.30 billion, a P/E ratio of 6.65 and a beta of 2.10. The stock has a 50-day simple moving average of $62.42 and a 200-day simple moving average of $74.52. 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 Inc. has a 1-year low of $49.92 and a 1-year high of $157.25.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.52 by $0.52. The business had revenue of $701.73 million during 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%. Atkore's revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.08 earnings per share. As a group, sell-side analysts expect that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio (DPR) is 25.38%.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, the insider now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of research reports. Citigroup decreased 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. Royal Bank of Canada increased 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. KeyCorp increased 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. Roth Capital set a $78.00 price target on Atkore and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, StockNews.com raised Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $77.57.

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.