Lodge Hill Capital LLC Sells 102,920 Shares of Atkore Inc. (NYSE:ATKR)

Lodge Hill Capital LLC lowered its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 37.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 175,580 shares of the company's stock after selling 102,920 shares during the quarter. Atkore makes up about 4.0% of Lodge Hill Capital LLC's investment portfolio, making the stock its 12th largest holding. Lodge Hill Capital LLC owned approximately 0.51% of Atkore worth $14,652,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ATKR. Jump Financial LLC increased its position in shares of Atkore by 53.6% during the 4th quarter. Jump Financial LLC now owns 78,500 shares of the company's stock valued at $6,551,000 after purchasing an additional 27,406 shares during the last quarter. Adams Wealth Management increased its holdings in shares of Atkore by 17.6% in the fourth quarter. Adams Wealth Management now owns 30,302 shares of the company's stock worth $2,529,000 after purchasing an additional 4,541 shares during the last quarter. Bridgewater Associates LP grew its holdings in Atkore by 44.5% during the 4th quarter. Bridgewater Associates LP now owns 72,760 shares of the company's stock valued at $6,072,000 after purchasing an additional 22,398 shares during the last quarter. Harber Asset Management LLC boosted its stake in shares of Atkore by 113.2% during the fourth quarter. Harber Asset Management LLC now owns 99,068 shares of the company's stock valued at $8,267,000 after purchasing an additional 52,606 shares during the period. Finally, Barclays PLC increased its position in shares of Atkore by 7.8% during the fourth quarter. Barclays PLC now owns 76,243 shares of the company's stock worth $6,363,000 after acquiring an additional 5,507 shares during the period.

Atkore Price Performance

Atkore stock traded up $5.51 during mid-day trading on Tuesday, hitting $62.24. 256,337 shares of the company were exchanged, compared to its average volume of 697,338. The business's 50 day simple moving average is $61.96 and its two-hundred day simple moving average is $77.36. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $185.42. The company has a market capitalization of $2.16 billion, a P/E ratio of 6.04 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 announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $680.77 million. During the same period in the previous year, the company earned $4.12 EPS. The business's quarterly revenue was down 17.1% compared to the same quarter last year. Analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal 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 given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore's payout ratio is currently 12.39%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Royal Bank of Canada increased their target price on Atkore from $64.00 to $65.00 and gave the company a "sector perform" rating in a research report on Tuesday. KeyCorp decreased their target price on 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 shares of Atkore from a "buy" rating to a "hold" rating and reduced their target price for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, Citigroup dropped their price objective on Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.99% of the company's stock.

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.