AdvisorShares Investments LLC Takes $476,000 Position in Atkore Inc. (NYSE:ATKR)

AdvisorShares Investments LLC bought a new position in Atkore Inc. (NYSE:ATKR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,700 shares of the company's stock, valued at approximately $476,000.

A number of other large investors have also added to or reduced their stakes in ATKR. Barclays PLC boosted its stake in shares of Atkore by 50.2% in the 3rd quarter. Barclays PLC now owns 70,736 shares of the company's stock worth $5,994,000 after buying an additional 23,628 shares during the last quarter. Virtu Financial LLC purchased a new position in Atkore in the third quarter worth about $867,000. Tidal Investments LLC grew its stake in shares of Atkore by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 23,744 shares of the company's stock valued at $2,012,000 after purchasing an additional 6,628 shares during the period. Nordea Investment Management AB increased its position in shares of Atkore by 4.7% during the 4th quarter. Nordea Investment Management AB now owns 107,399 shares of the company's stock valued at $8,965,000 after purchasing an additional 4,869 shares during the last quarter. Finally, Matrix Trust Co lifted its stake in shares of Atkore by 657.7% in the 4th quarter. Matrix Trust Co now owns 2,129 shares of the company's stock worth $178,000 after purchasing an additional 1,848 shares during the period.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of Atkore 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 sale, the insider now directly owns 33,760 shares of the company's stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.99% of the company's stock.

Atkore Stock Performance

NYSE ATKR opened at $63.73 on Wednesday. The business has a 50-day moving average price of $61.15 and a 200-day moving average price of $76.47. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 6.17 and a beta of 2.02. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $183.46. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm's revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.12 EPS. As a group, equities research analysts predict that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 2.01%. Atkore's dividend payout ratio is currently 12.39%.

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.

Want to see what other hedge funds are holding ATKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atkore Inc. (NYSE:ATKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.