Decade Renewable Partners LP Purchases New Shares in Atkore Inc. (NYSE:ATKR)

Decade Renewable Partners LP bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,800 shares of the company's stock, valued at approximately $4,907,000. Atkore comprises approximately 2.4% of Decade Renewable Partners LP's investment portfolio, making the stock its 20th largest position. Decade Renewable Partners LP owned about 0.17% of Atkore at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ATKR. Jones Financial Companies Lllp increased its position in Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after purchasing an additional 186 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after buying an additional 195 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock worth $86,000 after buying an additional 1,000 shares in the last quarter. KBC Group NV lifted its stake in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after acquiring an additional 469 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Atkore by 88.5% during the 4th quarter. Covestor Ltd now owns 1,889 shares of the company's stock valued at $157,000 after acquiring an additional 887 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on ATKR shares. Citigroup dropped their target price on Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. KeyCorp lowered their price objective on Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada lifted their target price on shares of Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 22nd. Finally, Loop Capital cut shares of Atkore from a "buy" rating to a "hold" rating and decreased their price target for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $75.00.

Atkore Trading Up 1.9 %

Shares of NYSE:ATKR traded up $1.21 during midday trading on Friday, reaching $65.80. The company's stock had a trading volume of 365,056 shares, compared to its average volume of 698,148. The firm has a 50 day moving average price of $61.15 and a two-hundred day moving average price of $76.10. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $180.62. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 6.37 and a beta of 2.02. 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 (NYSE:ATKR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. The firm had revenue of $661.60 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.12 earnings per share. As a group, analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be paid a $0.33 dividend. This is an increase from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, May 16th. Atkore's payout ratio is 12.39%.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares of the company's stock, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.99% of the company's stock.

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.