Silvercrest Asset Management Group LLC Purchases 10,681 Shares of Atkore Inc. (NYSE:ATKR)

Silvercrest Asset Management Group LLC raised its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,232 shares of the company's stock after acquiring an additional 10,681 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.63% of Atkore worth $18,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ATKR. Barclays PLC grew its position in shares of Atkore by 50.2% during 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 period. Exchange Traded Concepts LLC grew its position in shares of Atkore by 2,642.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,947 shares of the company's stock worth $2,499,000 after buying an additional 28,855 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of Atkore by 16.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 3,799 shares of the company's stock worth $317,000 after buying an additional 544 shares during the period. KBC Group NV grew its position in shares of Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock worth $121,000 after buying an additional 469 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after buying an additional 195 shares during the period.

Atkore Stock Down 0.8%

Shares of Atkore stock traded down $0.53 on Tuesday, hitting $68.08. The company had a trading volume of 276,428 shares, compared to its average volume of 683,499. The firm has a market capitalization of $2.29 billion, a P/E ratio of 6.59 and a beta of 2.10. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $157.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The stock has a 50-day moving average of $62.42 and a 200-day moving average of $74.52.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.52. The company had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business's quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.08 earnings per share. Research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be issued a dividend of $0.33 per share. This is a boost from Atkore's previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 16th. This represents a $1.32 annualized dividend and a yield of 1.94%. Atkore's dividend payout ratio is presently 25.38%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the transaction, the insider now owns 32,828 shares in the company, valued at approximately $2,270,384.48. This represents a 2.96% 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. 1.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ATKR shares. Royal Bank of Canada boosted their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Roth Capital set a $78.00 price target on shares of Atkore and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Citigroup reduced their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Loop Capital cut shares of Atkore from a "buy" rating to a "hold" rating and reduced their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, KeyCorp lifted their price target on shares of Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.57.

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.