EP Wealth Advisors LLC Makes New $601,000 Investment in Atkore Inc. (NYSE:ATKR)

EP Wealth Advisors LLC bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,088 shares of the company's stock, valued at approximately $601,000.

Several other institutional investors have also modified their holdings of the business. Quarry LP acquired a new stake in Atkore in the second quarter valued at approximately $57,000. Signaturefd LLC lifted its position in shares of Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company's stock worth $42,000 after purchasing an additional 401 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company's stock worth $122,000 after purchasing an additional 805 shares during the last quarter. Covestor Ltd lifted its position in shares of Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company's stock worth $85,000 after purchasing an additional 390 shares during the last quarter. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of Atkore during the 3rd quarter worth $126,000.

Atkore Stock Performance

Shares of Atkore stock traded down $1.91 on Thursday, reaching $86.78. 469,836 shares of the stock were exchanged, compared to its average volume of 632,170. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average price of $89.53 and a two-hundred day moving average price of $107.27. The firm has a market capitalization of $3.03 billion, a PE ratio of 7.02 and a beta of 2.10.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.08 by ($0.06). The firm had revenue of $788.30 million for the quarter, compared to analyst estimates of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company's revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.63 earnings per share. As a group, research analysts anticipate that Atkore Inc. will post 6.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, December 6th. Atkore's dividend payout ratio (DPR) is presently 10.13%.

Insider Buying and Selling at Atkore

In related news, Director Jeri L. Isbell sold 3,353 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the sale, the director now directly owns 25,585 shares of the company's stock, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel S. Kelly sold 13,071 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the sale, the vice president now directly owns 27,528 shares of the company's stock, valued at approximately $2,635,530.72. The trade was a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock valued at $1,614,975 over the last quarter. Corporate insiders own 2.56% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. KeyCorp reduced their price target on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, September 13th. Loop Capital reduced their price target on shares of Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Finally, B. Riley cut shares of Atkore from a "buy" rating to a "neutral" rating and reduced their price target for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $118.80.

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.