Capital International Investors Purchases 86,975 Shares of Atkore Inc. (NYSE:ATKR)

Capital International Investors raised its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 82.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 192,220 shares of the company's stock after buying an additional 86,975 shares during the quarter. Capital International Investors owned about 0.55% of Atkore worth $16,041,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ATKR. 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. 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. 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. Finally, Covestor Ltd boosted its holdings in shares of Atkore by 88.5% during the 4th quarter. Covestor Ltd now owns 1,889 shares of the company's stock valued at $157,000 after buying an additional 887 shares in the last quarter.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction on Monday, February 10th. The shares were 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 $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.99% of the stock is owned by corporate insiders.

Atkore Stock Performance

Shares of ATKR traded down $0.70 during mid-day trading on Wednesday, hitting $61.96. 546,757 shares of the company traded hands, compared to its average volume of 699,154. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $185.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The stock has a 50-day moving average price of $61.59 and a two-hundred day moving average price of $77.15. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 6.00 and a beta of 2.02.

Atkore (NYSE:ATKR - Get Free Report) 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. Equities analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.07%. Atkore's dividend payout ratio (DPR) is 12.39%.

Wall Street Analysts Forecast Growth

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

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.