58,800 Shares in Atkore Inc. (NYSE:ATKR) Purchased by Decade Renewable Partners LP

Decade Renewable Partners LP bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,800 shares of the company's stock, valued at approximately $4,907,000. Atkore comprises 2.4% of Decade Renewable Partners LP's portfolio, making the stock its 20th largest holding. Decade Renewable Partners LP owned about 0.17% of Atkore at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lakewood Asset Management LLC raised its stake in Atkore by 1.4% in the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company's stock valued at $756,000 after purchasing an additional 126 shares during the last quarter. Van Den Berg Management I Inc. raised its position in shares of Atkore by 0.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock valued at $3,425,000 after buying an additional 158 shares during the last quarter. Isthmus Partners LLC lifted its stake in shares of Atkore by 0.8% during the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company's stock valued at $1,789,000 after buying an additional 162 shares during the period. Xponance Inc. boosted its position in Atkore by 6.9% during the fourth quarter. Xponance Inc. now owns 2,569 shares of the company's stock worth $214,000 after acquiring an additional 166 shares during the last quarter. Finally, Willis Investment Counsel boosted its position in Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company's stock worth $446,000 after acquiring an additional 171 shares during the last quarter.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.99% of the stock is currently owned by company insiders.

Atkore Stock Performance

NYSE:ATKR opened at $64.08 on Monday. The firm's fifty day simple moving average is $61.31 and its 200 day simple moving average is $76.73. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $185.42. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 6.20 and a beta of 2.02.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company's revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.12 earnings per share. As a group, equities research analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Tuesday, February 18th. Atkore's dividend payout ratio is currently 12.39%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ATKR. KeyCorp reduced their price target on Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup reduced their target price on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Loop Capital cut Atkore from a "buy" rating to a "hold" rating and lowered their price target for the company from $115.00 to $65.00 in a report on Monday, February 10th. Finally, Royal Bank of Canada increased their price objective on shares of Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

About Atkore

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.

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