Paradiem LLC Decreases Stock Position in Atkore Inc. (NYSE:ATKR)

Paradiem LLC decreased its holdings in Atkore Inc. (NYSE:ATKR) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,766 shares of the company’s stock after selling 4,958 shares during the period. Paradiem LLC owned about 0.07% of Atkore worth $4,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATKR. GAMMA Investing LLC acquired a new stake in Atkore in the fourth quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in shares of Atkore in the third quarter valued at approximately $30,000. Anchor Investment Management LLC purchased a new stake in shares of Atkore in the fourth quarter valued at approximately $32,000. NBC Securities Inc. acquired a new stake in shares of Atkore in the third quarter worth approximately $54,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Atkore in the fourth quarter worth approximately $72,000.

Atkore Stock Up 1.0 %

Shares of NYSE:ATKR traded up $1.78 on Friday, hitting $182.99. 256,834 shares of the company’s stock were exchanged, compared to its average volume of 512,445. The firm’s 50-day moving average is $173.49 and its 200 day moving average is $153.46. The company has a market capitalization of $6.73 billion, a PE ratio of 10.97 and a beta of 2.19. Atkore Inc. has a 1-year low of $116.14 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.08 by $1.04. The business had revenue of $798.50 million during the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.51 EPS. Sell-side analysts predict that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.70%. Atkore’s dividend payout ratio (DPR) is presently 7.67%.

Insider Activity at Atkore

In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the completion of the sale, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $13,434,743.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO William E. Jr. Waltz sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $173.85, for a total value of $8,692,500.00. Following the completion of the transaction, the chief executive officer now directly owns 83,716 shares of the company’s stock, valued at approximately $14,554,026.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William E. Jr. Waltz sold 43,072 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $160.48, for a total value of $6,912,194.56. Following the completion of the sale, the chief executive officer now owns 83,716 shares in the company, valued at $13,434,743.68. The disclosure for this sale can be found here. Insiders sold a total of 148,464 shares of company stock valued at $25,124,751 in the last three months. 2.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $187.00 price objective on shares of Atkore in a research note on Friday, March 22nd. StockNews.com raised Atkore from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Citigroup upped their price target on Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

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.