Atkore Inc. (NYSE:ATKR) Shares Bought by First Trust Advisors LP

First Trust Advisors LP boosted its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 195.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,174,464 shares of the company's stock after buying an additional 777,113 shares during the period. First Trust Advisors LP owned 3.38% of Atkore worth $98,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors increased its position in shares of Atkore by 82.6% during the fourth quarter. Capital International Investors now owns 192,220 shares of the company's stock valued at $16,041,000 after acquiring an additional 86,975 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Atkore by 1,572.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 135,500 shares of the company's stock worth $11,307,000 after purchasing an additional 127,400 shares in the last quarter. Jump Financial LLC lifted its position in shares of Atkore by 53.6% in the fourth quarter. Jump Financial LLC now owns 78,500 shares of the company's stock valued at $6,551,000 after acquiring an additional 27,406 shares in the last quarter. Adams Wealth Management grew its holdings in Atkore by 17.6% during the 4th quarter. Adams Wealth Management now owns 30,302 shares of the company's stock valued at $2,529,000 after buying an additional 4,541 shares in the last quarter. Finally, Bridgewater Associates LP lifted its position in shares of Atkore by 44.5% in the fourth quarter. Bridgewater Associates LP now owns 72,760 shares of the company's stock worth $6,072,000 after buying an additional 22,398 shares in the last quarter.

Atkore Stock Down 1.1 %

Shares of ATKR traded down $0.70 during mid-day trading on Wednesday, hitting $61.96. 546,757 shares of the company's stock were exchanged, compared to its average volume of 699,154. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 6.00 and a beta of 2.02. 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 stock's 50-day moving average is $61.59 and its 200-day moving average is $77.15. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $185.42.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same quarter in the prior year, the firm earned $4.12 EPS. Atkore's quarterly revenue was down 17.1% on a year-over-year basis. On average, sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.07%. Atkore's dividend payout ratio is presently 12.39%.

Analyst Ratings Changes

A number of brokerages have recently commented on ATKR. Royal Bank of Canada lifted their target price on Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a report on Tuesday. Loop Capital cut 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. Citigroup lowered their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, KeyCorp reduced their price objective on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Atkore presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares of the company's stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.99% of the stock is currently owned by insiders.

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.