Sanctuary Advisors LLC Makes New $1.34 Million Investment in Atkore Inc. (NYSE:ATKR)

Sanctuary Advisors LLC bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,920 shares of the company's stock, valued at approximately $1,339,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Atkore in the 2nd quarter valued at approximately $57,000. Mather Group LLC. raised its holdings in shares of Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company's stock valued at $63,000 after buying an additional 421 shares during the period. Headlands Technologies LLC lifted its stake in Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company's stock worth $122,000 after acquiring an additional 805 shares in the last quarter. Kapitalo Investimentos Ltda boosted its holdings in Atkore by 2,658.8% during the 4th quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company's stock valued at $150,000 after acquiring an additional 904 shares during the period. Finally, Summit Trail Advisors LLC grew its position in Atkore by 32.1% in the 2nd quarter. Summit Trail Advisors LLC now owns 1,549 shares of the company's stock valued at $209,000 after acquiring an additional 376 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. B. Riley dropped their price objective on shares of Atkore from $183.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada downgraded shares of Atkore from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. KeyCorp decreased their target price on Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, September 13th. Finally, Loop Capital lowered their target price on Atkore from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $131.60.

Atkore Stock Up 1.9 %

Shares of NYSE:ATKR traded up $1.60 during trading on Friday, hitting $87.20. 495,169 shares of the company were exchanged, compared to its average volume of 619,897. The firm's 50 day moving average price is $90.92 and its 200-day moving average price is $132.70. Atkore Inc. has a 12-month low of $80.11 and a 12-month high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The stock has a market capitalization of $3.13 billion, a P/E ratio of 6.12 and a beta of 2.14.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, beating analysts' consensus estimates of $3.52 by $0.28. The firm had revenue of $822.40 million during the quarter, compared to analysts' expectations of $830.16 million. Atkore had a net margin of 16.47% and a return on equity of 36.96%. Atkore's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.13 earnings per share. On average, research analysts predict that Atkore Inc. will post 12.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Tuesday, August 20th. Atkore's dividend payout ratio is currently 8.99%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the transaction, the insider now directly owns 28,086 shares of the company's stock, valued at approximately $2,681,370.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.56% of the stock is owned by company 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.