EMC Capital Management Sells 1,460 Shares of Atkore Inc. (NYSE:ATKR)

EMC Capital Management decreased its holdings in Atkore Inc. (NYSE:ATKR) by 21.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,499 shares of the company’s stock after selling 1,460 shares during the quarter. EMC Capital Management’s holdings in Atkore were worth $459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Wellington Management Group LLP bought a new stake in Atkore during the third quarter worth about $7,916,000. Chase Investment Counsel Corp boosted its position in shares of Atkore by 97.0% during the 3rd quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock worth $1,101,000 after acquiring an additional 6,400 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Atkore by 729.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock valued at $2,358,000 after acquiring an additional 24,476 shares during the last quarter. M&G PLC bought a new stake in Atkore during the third quarter worth $9,123,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Atkore by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,927 shares of the company’s stock valued at $2,136,000 after purchasing an additional 7,123 shares in the last quarter.

Atkore Price Performance

ATKR stock opened at $81.61 on Thursday. The company has a market capitalization of $2.83 billion, a P/E ratio of 6.45 and a beta of 2.13. The company has a fifty day moving average price of $86.31 and a 200-day moving average price of $93.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. Atkore Inc. has a 52-week low of $76.01 and a 52-week high of $194.98.

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

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.57%. Atkore’s dividend payout ratio (DPR) is currently 10.13%.

Analyst Ratings Changes

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

Insider Activity

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now directly owns 27,528 shares in the company, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeri L. Isbell sold 3,353 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the sale, the director now directly owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,924 shares of company stock valued at $1,614,975. 1.99% of the stock is currently owned by insiders.

About Atkore

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.