Grantham Mayo Van Otterloo & Co. LLC Increases Position in Atkore Inc. (NYSE:ATKR)

Grantham Mayo Van Otterloo & Co. LLC raised its position in Atkore Inc. (NYSE:ATKR - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 140,287 shares of the company's stock after buying an additional 6,967 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.40% of Atkore worth $11,707,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Atkore by 549.9% in the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock worth $50,658,000 after acquiring an additional 513,631 shares during the period. Norges Bank purchased a new stake in shares of Atkore during the 4th quarter worth approximately $42,339,000. Victory Capital Management Inc. raised its holdings in shares of Atkore by 3,948.4% in the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock worth $39,291,000 after purchasing an additional 459,200 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock valued at $111,467,000 after purchasing an additional 134,517 shares during the last quarter. Finally, E. Ohman J or Asset Management AB grew its holdings in Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock valued at $26,569,000 after purchasing an additional 113,263 shares during the period.

Wall Street Analyst Weigh In

ATKR has been the topic of several research reports. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and lowered their target price for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Roth Capital upgraded Atkore to a "strong-buy" rating in a research note on Monday, December 16th. Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They set a "buy" rating and a $100.00 price objective on the stock. Finally, KeyCorp reduced their target price on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday. Five equities research 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 stock. According to data from MarketBeat, Atkore currently has an average rating of "Moderate Buy" and an average price target of $101.50.

Atkore Price Performance

NYSE ATKR traded up $1.32 during trading hours on Friday, hitting $58.02. The company had a trading volume of 586,020 shares, compared to its average volume of 697,691. 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 firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 5.62 and a beta of 2.02. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $185.42. The firm has a 50 day simple moving average of $63.15 and a 200 day simple moving average of $78.50.

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

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.21%. Atkore's dividend payout ratio (DPR) is currently 12.39%.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of Atkore 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 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 SEC, which can be accessed through this link. Insiders own 1.99% of the company's stock.

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.