Proficio Capital Partners LLC Purchases New Shares in Atkore Inc. (NYSE:ATKR)

Proficio Capital Partners LLC purchased a new stake in shares of Atkore Inc. (NYSE:ATKR) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 10,765 shares of the company’s stock, valued at approximately $898,000.

Several other hedge funds also recently made changes to their positions in ATKR. Quarry LP raised its stake in Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. raised its stake in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares during the last quarter. Covestor Ltd raised its stake in Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after buying an additional 390 shares during the last quarter. KBC Group NV raised its stake in Atkore by 47.7% during the fourth quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after buying an additional 469 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Atkore during the third quarter valued at $143,000.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.99% of the stock is currently owned by corporate insiders.

Atkore Stock Performance

Shares of ATKR opened at $64.96 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore Inc. has a one year low of $55.91 and a one year high of $194.98. The firm has a market capitalization of $2.26 billion, a P/E ratio of 6.29 and a beta of 2.22. The business has a fifty day moving average of $75.19 and a 200 day moving average of $83.83.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the previous year, the company posted $4.12 earnings per share. Atkore’s revenue was down 17.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Tuesday, February 18th. Atkore’s payout ratio is currently 12.39%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Roth Mkm assumed coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. B. Riley cut 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 note on Friday, November 22nd. Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Finally, KeyCorp decreased their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

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.