BI Asset Management Fondsmaeglerselskab A S Takes Position in Atkore Inc. (NYSE:ATKR)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,151 shares of the company's stock, valued at approximately $847,000.

A number of other institutional investors have also modified their holdings of the business. First Trust Advisors LP grew its position in Atkore by 195.6% during the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock worth $98,009,000 after purchasing an additional 777,113 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Atkore by 549.9% during the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock worth $50,658,000 after buying an additional 513,631 shares during the last quarter. Norges Bank acquired a new position in Atkore in the 4th quarter valued at about $42,339,000. Victory Capital Management Inc. raised its stake in Atkore by 3,948.4% during the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock valued at $39,291,000 after acquiring an additional 459,200 shares during the last quarter. Finally, LSV Asset Management lifted its position in Atkore by 24.2% during the 4th quarter. LSV Asset Management now owns 924,100 shares of the company's stock worth $77,116,000 after acquiring an additional 180,160 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ATKR. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and dropped their target price for the company from $115.00 to $65.00 in a report on Monday, February 10th. Royal Bank of Canada upped their price objective 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. Citigroup lowered their target price on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, KeyCorp cut their price target on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Five investment 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 company. Based on data from MarketBeat.com, Atkore presently has an average rating of "Moderate Buy" and an average target price of $75.00.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.99% of the company's stock.

Atkore Price Performance

Shares of ATKR traded down $0.28 on Tuesday, reaching $63.19. The stock had a trading volume of 52,886 shares, compared to its average volume of 697,197. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $185.42. The firm has a market capitalization of $2.19 billion, a PE ratio of 6.13 and a beta of 2.02. The firm has a 50-day moving average of $61.22 and a 200 day moving average of $76.56. 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 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 return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the prior year, the company earned $4.12 earnings per share. Atkore's revenue was down 17.1% compared to the same quarter last year. Sell-side analysts expect that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore's payout ratio is currently 12.39%.

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.