Keybank National Association OH Purchases New Position in Atkore Inc. (NYSE:ATKR)

Keybank National Association OH purchased a new stake in Atkore Inc. (NYSE:ATKR) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,775 shares of the company’s stock, valued at approximately $232,000.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Atkore by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock worth $44,243,000 after acquiring an additional 50,194 shares during the last quarter. Silver Coast Investments LLC boosted its stake in Atkore by 5.5% in the fourth quarter. Silver Coast Investments LLC now owns 5,465 shares of the company’s stock worth $456,000 after purchasing an additional 287 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 186 shares during the last quarter. Chase Investment Counsel Corp increased its stake in shares of Atkore by 15.4% in the fourth quarter. Chase Investment Counsel Corp now owns 15,000 shares of the company’s stock valued at $1,251,000 after buying an additional 2,000 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Atkore in the fourth quarter valued at about $898,000.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the firm’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 sale, the insider now owns 33,760 shares of the company’s stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.99% of the company’s stock.

Atkore Stock Performance

ATKR stock opened at $62.74 on Wednesday. Atkore Inc. has a twelve month low of $55.91 and a twelve month high of $194.98. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.18 billion, a P/E ratio of 6.07 and a beta of 2.22. The business’s fifty day moving average is $74.44 and its 200-day moving average is $83.22.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company’s revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.12 earnings per share. Equities research analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.04%. Atkore’s dividend payout ratio (DPR) is presently 12.39%.

Analyst Ratings Changes

ATKR has been the topic of a number of research analyst reports. KeyCorp decreased their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Mkm began coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

Atkore 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.