Harber Asset Management LLC Acquires 52,606 Shares of Atkore Inc. (NYSE:ATKR)

Harber Asset Management LLC increased its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 113.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,068 shares of the company's stock after buying an additional 52,606 shares during the quarter. Atkore comprises about 2.5% of Harber Asset Management LLC's portfolio, making the stock its 18th biggest position. Harber Asset Management LLC owned approximately 0.29% of Atkore worth $8,267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 186 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after purchasing an additional 195 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock worth $86,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV lifted its holdings in shares of Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after purchasing an additional 469 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Atkore by 88.5% during the fourth quarter. Covestor Ltd now owns 1,889 shares of the company's stock valued at $157,000 after buying an additional 887 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ATKR shares. KeyCorp dropped their price target on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Loop Capital downgraded Atkore from a "buy" rating to a "hold" rating and decreased their price target for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, Citigroup cut their price objective on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Atkore has an average rating of "Moderate Buy" and a consensus price target of $81.17.

Atkore Stock Performance

Shares of NYSE ATKR traded up $0.73 during trading on Friday, reaching $58.47. 839,447 shares of the stock traded hands, compared to its average volume of 699,161. The company has a 50-day moving average of $62.21 and a 200-day moving average of $77.62. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $185.42. The stock has a market capitalization of $2.03 billion, a P/E ratio of 5.66 and a beta of 2.02. 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 (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company's quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter last year, the business earned $4.12 earnings per share. Analysts forecast that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 2.19%. Atkore's dividend payout ratio (DPR) is 12.39%.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction dated Monday, February 10th. The stock was 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 in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.99% of the stock is owned by corporate insiders.

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.