Harbour Investments Inc. Acquires 1,000 Shares of Atkore Inc. (NYSE:ATKR)

Harbour Investments Inc. increased its holdings in Atkore Inc. (NYSE:ATKR) by 3,333.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,030 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Harbour Investments Inc.’s holdings in Atkore were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ATKR. Jones Financial Companies Lllp increased its holdings in shares of Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after buying an additional 186 shares during the period. Quarry LP boosted its holdings in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares during the period. Pacer Advisors Inc. increased its stake in Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after purchasing an additional 195 shares during the period. KBC Group NV increased its stake in Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after purchasing an additional 469 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Atkore during the third quarter valued at approximately $144,000.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. 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 currently owned by insiders.

Atkore Stock Performance

Atkore stock opened at $62.93 on Monday. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98. The stock’s 50 day simple moving average is $71.36 and its two-hundred day simple moving average is $81.61. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 6.09 and a beta of 2.22.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

Analyst Ratings Changes

ATKR has been the topic of several analyst reports. Roth Mkm began coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Loop Capital downgraded shares of Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, KeyCorp cut their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.17.

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.