Chase Investment Counsel Corp Purchases 2,000 Shares of Atkore Inc. (NYSE:ATKR)

Chase Investment Counsel Corp increased its stake in Atkore Inc. (NYSE:ATKR) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Chase Investment Counsel Corp’s holdings in Atkore were worth $1,251,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quarry LP raised its holdings in shares of Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after purchasing an additional 208 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after purchasing an additional 195 shares during the period. Covestor Ltd raised 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 purchasing an additional 390 shares during the period. KBC Group NV raised 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 purchasing an additional 469 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Atkore in the 3rd quarter worth approximately $126,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and reduced their price target for the company from $115.00 to $65.00 in a research report on Monday, February 10th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, KeyCorp reduced their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Five investment 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 has a consensus rating of “Moderate Buy” and an average price target of $103.17.

Atkore Stock Down 1.2 %

Shares of NYSE:ATKR opened at $61.51 on Friday. Atkore Inc. has a 52-week low of $60.53 and a 52-week high of $194.98. The firm has a fifty day moving average of $77.31 and a 200 day moving average of $85.04. The firm has a market capitalization of $2.14 billion, a PE ratio of 5.95 and a beta of 2.12. 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 (NYSE:ATKR) last announced its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.12 earnings per share. As a group, research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.08%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio is presently 12.39%.

Insiders Place Their Bets

In other 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 transaction of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.99% of the stock is currently owned by insiders.

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.