Atkore Inc. (NYSE:ATKR) Shares Acquired by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC increased its position in shares of Atkore Inc. (NYSE:ATKR) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,723 shares of the company’s stock after purchasing an additional 1,673 shares during the period. Twelve Points Wealth Management LLC owned 0.05% of Atkore worth $1,562,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Atkore during the second quarter valued at approximately $57,000. Signaturefd LLC lifted its position in shares of Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after acquiring an additional 401 shares during the last quarter. Pacer Advisors Inc. boosted its stake 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 acquiring an additional 195 shares in the last quarter. Covestor Ltd grew its holdings in shares of Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after acquiring an additional 390 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares during the last quarter.

Atkore Stock Performance

NYSE:ATKR opened at $81.05 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The firm’s 50-day moving average is $86.31 and its 200-day moving average is $93.89. Atkore Inc. has a 52-week low of $76.01 and a 52-week high of $194.98. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 6.42 and a beta of 2.13.

Atkore (NYSE:ATKR) last issued its earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The firm had revenue of $788.30 million during the quarter, compared to analyst estimates of $749.49 million. During the same quarter in the previous year, the company posted $3.63 earnings per share. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. Equities research analysts anticipate that Atkore Inc. will post 6.62 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, December 6th. Atkore’s dividend payout ratio (DPR) is 10.13%.

Insiders Place Their Bets

In other news, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the transaction, the vice president now owns 27,528 shares in the company, valued at approximately $2,635,530.72. The trade was a 32.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now owns 27,626 shares in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock worth $1,614,975 over the last three months. 1.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Roth Mkm started coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Loop Capital lowered their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

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.