Charles Schwab Investment Management Inc. Boosts Stock Position in Atkore Inc. (NYSE:ATKR)

Charles Schwab Investment Management Inc. grew its holdings in shares of Atkore Inc. (NYSE:ATKR) by 10.5% in the 4th quarter, HoldingsChannel reports. The firm owned 530,170 shares of the company’s stock after acquiring an additional 50,194 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Atkore were worth $44,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in Atkore by 10.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after buying an additional 134,517 shares during the last quarter. Royce & Associates LP grew its position in shares of Atkore by 20.2% during the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock valued at $33,562,000 after acquiring an additional 66,533 shares during the period. E. Ohman J or Asset Management AB raised its holdings in shares of Atkore by 55.2% in the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after purchasing an additional 113,263 shares during the period. Swedbank AB raised its holdings in shares of Atkore by 18.4% in the 4th quarter. Swedbank AB now owns 296,791 shares of the company’s stock worth $24,767,000 after purchasing an additional 46,200 shares during the period. Finally, Boston Trust Walden Corp lifted its stake in Atkore by 44.9% in the fourth quarter. Boston Trust Walden Corp now owns 272,939 shares of the company’s stock valued at $22,777,000 after purchasing an additional 84,584 shares during the last quarter.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’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 completion of the transaction, the insider now owns 33,760 shares of the company’s stock, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.99% of the stock is owned by company insiders.

Atkore Stock Performance

Atkore stock opened at $64.55 on Friday. The firm’s 50 day simple moving average is $73.29 and its 200 day simple moving average is $82.70. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 1-year low of $55.91 and a 1-year high of $194.98. The firm has a market capitalization of $2.24 billion, a PE ratio of 6.25 and a beta of 2.22.

Atkore (NYSE:ATKR) last issued its quarterly earnings data 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 company had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm’s revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.12 earnings per share. As a group, analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

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 1.98%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ATKR shares. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their target price for the company from $115.00 to $65.00 in a research note on Monday, February 10th. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Mkm assumed coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. KeyCorp reduced their target price on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. 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. According to MarketBeat, Atkore currently has an average rating of “Moderate Buy” and an average target price of $103.17.

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.