MYDA Advisors LLC Purchases Shares of 5,228 Atkore Inc. (NYSE:ATKR)

MYDA Advisors LLC bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 5,228 shares of the company's stock, valued at approximately $436,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. E. Ohman J or Asset Management AB increased its holdings in shares of Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock worth $26,569,000 after buying an additional 113,263 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock valued at $111,467,000 after buying an additional 134,517 shares during the last quarter. Barclays PLC raised its holdings in shares of Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company's stock valued at $5,994,000 after buying an additional 23,628 shares during the last quarter. Tidal Investments LLC lifted its position in Atkore by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 23,744 shares of the company's stock worth $2,012,000 after buying an additional 6,628 shares in the last quarter. Finally, Swedbank AB grew its holdings in Atkore by 18.4% during the 4th quarter. Swedbank AB now owns 296,791 shares of the company's stock worth $24,767,000 after acquiring an additional 46,200 shares during the last quarter.

Atkore Trading Down 1.1 %

NYSE:ATKR traded down $0.70 during mid-day trading on Wednesday, hitting $61.96. The company had a trading volume of 546,757 shares, compared to its average volume of 699,154. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $185.42. The firm has a market cap of $2.15 billion, a P/E ratio of 6.00 and a beta of 2.02. The business's fifty day moving average is $61.80 and its two-hundred day moving average is $77.25.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million for 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%. Atkore's quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.12 EPS. As a group, research analysts expect that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore's dividend payout ratio (DPR) is presently 12.39%.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, February 10th. The stock was 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 of the company's stock, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ATKR shares. Loop Capital lowered 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 report on Monday, February 10th. Royal Bank of Canada upped their price objective on Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a report on Tuesday. KeyCorp lowered their target price on Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup cut their price target on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Atkore presently has an average rating of "Moderate Buy" and an average target price of $75.00.

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.