Aquatic Capital Management LLC Has $2.25 Million Position in Atkore Inc. (NYSE:ATKR)

Aquatic Capital Management LLC cut its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 66.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,990 shares of the company's stock after selling 53,210 shares during the period. Aquatic Capital Management LLC owned 0.08% of Atkore worth $2,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of Atkore by 195.6% in the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock valued at $98,009,000 after purchasing an additional 777,113 shares during the period. Wellington Management Group LLP raised its position in shares of Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock valued at $50,658,000 after purchasing an additional 513,631 shares during the last quarter. Norges Bank acquired a new stake in shares of Atkore during the fourth quarter worth $42,339,000. Victory Capital Management Inc. increased its holdings in shares of Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock valued at $39,291,000 after purchasing an additional 459,200 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new position in Atkore during the 4th quarter worth approximately $21,369,000.

Analyst Ratings Changes

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

Atkore Trading Up 1.9 %

Shares of ATKR traded up $1.21 during trading hours on Friday, hitting $65.80. The stock had a trading volume of 365,056 shares, compared to its average volume of 698,811. The firm has a market cap of $2.28 billion, a P/E ratio of 6.37 and a beta of 2.10. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $180.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The company's fifty day simple moving average is $61.15 and its 200 day simple moving average is $75.92.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same period in the prior year, the firm earned $4.12 earnings per share. The business's quarterly revenue was down 17.1% compared to the same quarter last year. Equities research analysts forecast that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Atkore's previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 16th. Atkore's dividend payout ratio (DPR) is 12.78%.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the transaction, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.99% of the company's stock.

Atkore Profile

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.