KLP Kapitalforvaltning AS Takes Position in Atkore Inc. (NYSE:ATKR)

KLP Kapitalforvaltning AS purchased a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,500 shares of the company's stock, valued at approximately $1,127,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its holdings in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 186 shares during the period. Quarry LP grew its stake in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company's stock worth $54,000 after purchasing an additional 208 shares during the period. Pacer Advisors Inc. grew its stake in Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after purchasing an additional 195 shares during the period. Harbour Investments Inc. raised its holdings in Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, KBC Group NV lifted its position 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 period.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ATKR. KeyCorp reduced their target price on shares of Atkore from $105.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Loop Capital cut shares of Atkore from a "buy" rating to a "hold" rating and cut their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Roth Capital upgraded shares of Atkore to a "strong-buy" rating in a report on Monday, December 16th. Finally, Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They issued a "buy" rating and a $100.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $103.17.

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Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.99% of the stock is owned by insiders.

Atkore Stock Down 2.0 %

Shares of NYSE ATKR traded down $1.09 during midday trading on Friday, hitting $53.90. The stock had a trading volume of 717,875 shares, compared to its average volume of 693,563. The company has a market cap of $1.87 billion, a P/E ratio of 5.22 and a beta of 2.02. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $66.40 and its 200-day moving average is $79.99. Atkore Inc. has a 52 week low of $50.47 and a 52 week high of $185.87.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million for the quarter, compared to analysts' expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm's quarterly revenue was down 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.12 EPS. As a group, analysts predict that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.37%. Atkore's payout ratio is 12.39%.

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.