Miller Value Partners LLC Takes $3.09 Million Position in Atkore Inc. (NYSE:ATKR)

Miller Value Partners LLC acquired a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,000 shares of the company's stock, valued at approximately $3,088,000. Atkore makes up approximately 1.3% of Miller Value Partners LLC's investment portfolio, making the stock its 26th largest position. Miller Value Partners LLC owned about 0.11% of Atkore as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Lakewood Asset Management LLC lifted its position in shares of Atkore by 1.4% in the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company's stock valued at $756,000 after acquiring an additional 126 shares in the last quarter. Van Den Berg Management I Inc. increased its stake in Atkore by 0.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock valued at $3,425,000 after purchasing an additional 158 shares during the last quarter. Isthmus Partners LLC increased its stake in Atkore by 0.8% in the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company's stock valued at $1,789,000 after purchasing an additional 162 shares during the last quarter. Xponance Inc. increased its stake in Atkore by 6.9% in the fourth quarter. Xponance Inc. now owns 2,569 shares of the company's stock valued at $214,000 after purchasing an additional 166 shares during the last quarter. Finally, Willis Investment Counsel increased its stake in Atkore by 3.3% in the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company's stock valued at $446,000 after purchasing an additional 171 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction dated Monday, February 10th. The shares were 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 owns 33,760 shares of the company's stock, valued at $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.99% of the stock is owned by corporate insiders.

Atkore Stock Down 1.1 %

Shares of ATKR stock traded down $0.67 during trading hours on Wednesday, reaching $63.07. The company had a trading volume of 118,988 shares, compared to its average volume of 697,591. 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 Inc. has a twelve month low of $49.92 and a twelve month high of $183.46. The company has a market capitalization of $2.19 billion, a P/E ratio of 6.11 and a beta of 2.02. The stock's fifty day simple moving average is $61.15 and its 200 day simple moving average is $76.47.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The firm 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%. Atkore's revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.12 earnings per share. As a group, sell-side analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. KeyCorp dropped their target price on Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. 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 research note on Monday, February 10th. Royal Bank of Canada upped their target price on Atkore from $64.00 to $65.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 22nd. Finally, Citigroup dropped 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. Five 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

Atkore Company 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.