Harbour Investments Inc. Buys 1,000 Shares of Atkore Inc. (NYSE:ATKR)

Harbour Investments Inc. raised its stake in Atkore Inc. (NYSE:ATKR) by 3,333.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,030 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Harbour Investments Inc.’s holdings in Atkore were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ATKR. Jones Financial Companies Lllp lifted its stake in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares during the last quarter. Quarry LP lifted its position in shares of Atkore by 48.8% during the 3rd 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. lifted its position in shares of Atkore by 30.2% during the 4th 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. KBC Group NV grew its stake in shares of Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Atkore in the 3rd quarter worth about $144,000.

Atkore Stock Down 1.6 %

ATKR opened at $62.93 on Monday. The firm has a market capitalization of $2.19 billion, a P/E ratio of 6.09 and a beta of 2.22. Atkore Inc. has a one year low of $55.91 and a one year high of $194.98. The company has a fifty day moving average price of $71.36 and a 200-day moving average price of $81.61. 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 (NYSE:ATKR) last posted its earnings results 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 business had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $680.77 million. During the same period in the previous year, the business earned $4.12 earnings per share. The firm’s revenue was down 17.1% on a year-over-year basis. Equities research analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio is currently 12.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and cut their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. KeyCorp lowered their target price on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, Roth Mkm assumed coverage on Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Atkore currently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’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 sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.99% of the stock is currently owned by company 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.