nVerses Capital LLC Acquires 600 Shares of Atkore Inc. (NYSE:ATKR)

nVerses Capital LLC raised its holdings in Atkore Inc. (NYSE:ATKR) by 24.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,100 shares of the company’s stock after purchasing an additional 600 shares during the quarter. nVerses Capital LLC’s holdings in Atkore were worth $263,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. HighPoint Advisor Group LLC acquired a new position in Atkore during the 4th quarter worth approximately $252,000. Banque Cantonale Vaudoise increased its holdings in shares of Atkore by 534.7% during the first quarter. Banque Cantonale Vaudoise now owns 2,869 shares of the company’s stock worth $546,000 after buying an additional 2,417 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of Atkore by 19.9% in the 1st quarter. Park Avenue Securities LLC now owns 6,593 shares of the company’s stock valued at $1,255,000 after acquiring an additional 1,096 shares during the last quarter. RFG Advisory LLC lifted its stake in shares of Atkore by 8.9% in the 1st quarter. RFG Advisory LLC now owns 2,164 shares of the company’s stock valued at $412,000 after acquiring an additional 177 shares during the last quarter. Finally, Steph & Co. boosted its holdings in shares of Atkore by 14.4% during the 1st quarter. Steph & Co. now owns 1,739 shares of the company’s stock valued at $331,000 after acquiring an additional 219 shares in the last quarter.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now directly owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.56% of the stock is currently owned by insiders.

Atkore Price Performance

Atkore stock opened at $89.60 on Friday. The firm has a market cap of $3.26 billion, a P/E ratio of 5.59 and a beta of 2.14. The stock’s 50 day moving average is $88.89 and its 200 day moving average is $128.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. Atkore Inc. has a one year low of $80.11 and a one year high of $194.98.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The company had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same period in the prior year, the firm posted $5.13 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, research analysts expect that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 1.43%. Atkore’s payout ratio is 7.98%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ATKR. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. KeyCorp dropped their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. B. Riley reduced their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Loop Capital dropped their price target on shares of Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.60.

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.