Easterly Investment Partners LLC Makes New $4.31 Million Investment in Atkore Inc. (NYSE:ATKR)

Easterly Investment Partners LLC purchased a new stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 51,608 shares of the company's stock, valued at approximately $4,307,000. Easterly Investment Partners LLC owned about 0.15% of Atkore at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ATKR. Allspring Global Investments Holdings LLC boosted its stake in shares of Atkore by 10.9% during the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Atkore by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company's stock valued at $44,243,000 after acquiring an additional 50,194 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Atkore by 3,948.4% during the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock worth $39,291,000 after acquiring an additional 459,200 shares during the period. Royce & Associates LP boosted its position in shares of Atkore by 4.2% during the fourth quarter. Royce & Associates LP now owns 412,752 shares of the company's stock valued at $34,444,000 after purchasing an additional 16,698 shares in the last quarter. Finally, E. Ohman J or Asset Management AB grew its stake in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock worth $26,569,000 after purchasing an additional 113,263 shares during the period.

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Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Loop Capital lowered 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 report on Monday, February 10th. KeyCorp lowered their price target on shares of Atkore from $105.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada restated a "sector perform" rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a "buy" rating and a $100.00 target price for the company. Finally, Roth Capital raised Atkore to a "strong-buy" rating in a research report on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $103.17.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction 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 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 ownership of the stock. 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 Down 1.3 %

Shares of NYSE ATKR traded down $0.76 during midday trading on Monday, hitting $59.83. The stock had a trading volume of 119,616 shares, compared to its average volume of 695,404. The company has a market cap of $2.08 billion, a P/E ratio of 5.78 and a beta of 2.22. 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 $69.23 and its 200-day moving average is $80.88. Atkore Inc. has a 52 week low of $55.91 and a 52 week high of $194.98.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating 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 business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. During the same period last year, the business posted $4.12 EPS. The company's revenue was down 17.1% compared to the same quarter last year. As a group, analysts predict that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.14%. Atkore's dividend payout ratio is presently 12.39%.

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.