DnB Asset Management AS Acquires 27,660 Shares of Atkore Inc. (NYSE:ATKR)

DnB Asset Management AS raised its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 24.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,450 shares of the company's stock after acquiring an additional 27,660 shares during the quarter. DnB Asset Management AS owned about 0.40% of Atkore worth $11,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Jones Financial Companies Lllp grew its stake in shares of Atkore by 87.7% during 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 boosted its position in Atkore by 48.8% in 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. increased its stake in shares of Atkore by 30.2% in 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 period. Harbour Investments Inc. raised its position in shares of Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock worth $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of 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 acquiring an additional 469 shares during the period.

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Insider Transactions at Atkore

In related 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 value of $32,500.00. Following 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 ownership of the stock. The transaction 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 owned by insiders.

Atkore Trading Down 9.1 %

Shares of ATKR traded down $5.62 during trading hours on Thursday, reaching $55.86. The stock had a trading volume of 193,057 shares, compared to its average volume of 692,733. The company has a market cap of $1.94 billion, a P/E ratio of 5.41 and a beta of 2.02. Atkore Inc. has a 52 week low of $55.46 and a 52 week high of $189.84. 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 firm has a 50-day moving average of $67.65 and a 200 day moving average of $80.38.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share 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%. Atkore's revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.12 EPS. On average, sell-side analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, February 18th. Atkore's dividend payout ratio (DPR) is presently 12.39%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Royal Bank of Canada reissued a "sector perform" rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. KeyCorp reduced their price objective on shares of Atkore from $105.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Roth Capital raised 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 note 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Atkore presently has an average rating of "Moderate Buy" and a consensus price target of $103.17.

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.