Atkore Inc. (NYSE:ATKR) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB increased its position in Atkore Inc. (NYSE:ATKR) by 4.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 107,399 shares of the company’s stock after buying an additional 4,869 shares during the period. Nordea Investment Management AB’s holdings in Atkore were worth $8,965,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in Atkore by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after buying an additional 85 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Atkore by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after acquiring an additional 129 shares during the period. Cornercap Investment Counsel Inc. raised its position in shares of Atkore by 3.9% during the 3rd quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock worth $431,000 after buying an additional 189 shares in the last quarter. Quarry LP boosted its stake in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in Atkore by 6.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,523 shares of the company’s stock valued at $383,000 after acquiring an additional 256 shares during the last quarter.

Analyst Upgrades and Downgrades

ATKR has been the subject of several recent analyst reports. Royal Bank of Canada reiterated 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. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp reduced their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Loop Capital decreased 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. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,924 shares of company stock worth $1,614,975. Company insiders own 1.99% of the company’s stock.

Atkore Price Performance

Shares of NYSE ATKR opened at $82.99 on Friday. The company has a fifty day moving average price of $88.48 and a 200 day moving average price of $98.91. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98. The firm has a market cap of $2.88 billion, a PE ratio of 6.57 and a beta of 2.13. 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 issued its quarterly 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). The business had revenue of $788.30 million for the quarter, compared to the consensus estimate of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the firm earned $3.63 earnings per share. Research analysts predict that Atkore Inc. will post 6.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, December 6th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 annualized dividend and a yield of 1.54%. Atkore’s dividend payout ratio (DPR) is currently 10.13%.

Atkore 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.