Boston Trust Walden Corp Increases Stock Position in Atkore Inc. (NYSE:ATKR)

Boston Trust Walden Corp raised its stake in Atkore Inc. (NYSE:ATKR) by 44.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,939 shares of the company’s stock after acquiring an additional 84,584 shares during the period. Boston Trust Walden Corp owned 0.79% of Atkore worth $22,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares during the period. Quarry LP boosted its holdings in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares during the period. Pacer Advisors Inc. grew its position in shares of Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after acquiring an additional 195 shares during the last quarter. Covestor Ltd increased 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 valued at $85,000 after acquiring an additional 390 shares during the period. Finally, KBC Group NV raised its position in Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after purchasing an additional 469 shares during the last quarter.

Atkore Price Performance

Shares of ATKR opened at $79.69 on Tuesday. The firm has a market capitalization of $2.77 billion, a PE ratio of 6.31 and a beta of 2.12. The stock’s 50 day moving average is $86.07 and its two-hundred day moving average is $92.50. Atkore Inc. has a twelve month low of $76.01 and a twelve month high of $194.98. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50.

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

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Tuesday, February 18th. Atkore’s dividend payout ratio is currently 10.13%.

Insiders Place Their Bets

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the transaction, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,924 shares of company stock worth $1,614,975. 1.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.