Empowered Funds LLC Has $2.85 Million Holdings in Atkore Inc. (NYSE:ATKR)

Empowered Funds LLC grew its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 101.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,134 shares of the company's stock after purchasing an additional 17,150 shares during the quarter. Empowered Funds LLC owned about 0.10% of Atkore worth $2,848,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ATKR. Allspring Global Investments Holdings LLC lifted its stake in shares of Atkore by 26.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company's stock valued at $104,599,000 after purchasing an additional 261,234 shares during the period. E. Ohman J or Asset Management AB lifted its stake in shares of Atkore by 55.2% in the 4th 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. M&G PLC acquired a new position in shares of Atkore in the 3rd quarter valued at $9,123,000. Algert Global LLC lifted its stake in shares of Atkore by 331.6% in the 3rd quarter. Algert Global LLC now owns 125,894 shares of the company's stock valued at $10,668,000 after purchasing an additional 96,724 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of Atkore in the 3rd quarter valued at $7,916,000.

Insider Activity

In related news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the transaction, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock worth $1,599,200 in the last quarter. Corporate insiders own 1.99% of the company's stock.

Atkore Stock Up 3.7 %

ATKR stock traded up $2.59 during trading hours on Monday, reaching $72.54. 697,322 shares of the stock were exchanged, compared to its average volume of 767,066. The firm's 50-day moving average is $80.93 and its 200-day moving average is $87.20. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 7.02 and a beta of 2.12. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore Inc. has a 12 month low of $62.62 and a 12 month high of $194.98.

Atkore (NYSE:ATKR - Get Free Report) last announced 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 company had revenue of $661.60 million during 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% compared to the same quarter last year. During the same quarter last year, the company earned $4.12 EPS. On average, equities research analysts expect that Atkore Inc. will post 6.55 earnings per share for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore's payout ratio is 12.39%.

Analyst Ratings Changes

Several analysts recently commented on the company. KeyCorp dropped their price objective on Atkore from $105.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. B. Riley downgraded Atkore from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Capital raised Atkore to a "strong-buy" rating in a research note on Monday, December 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, Loop Capital downgraded Atkore from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Atkore has an average rating of "Moderate Buy" and a consensus target price 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.