Ifrah Financial Services Inc. Decreases Stock Holdings in Atkore Inc. (NYSE:ATKR)

Ifrah Financial Services Inc. lessened its stake in Atkore Inc. (NYSE:ATKR) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,685 shares of the company’s stock after selling 288 shares during the period. Ifrah Financial Services Inc.’s holdings in Atkore were worth $750,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. River Road Asset Management LLC increased its stake in Atkore by 14.1% in the 4th quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after buying an additional 155,508 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Atkore by 0.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,126,630 shares of the company’s stock worth $168,082,000 after acquiring an additional 7,574 shares during the last quarter. Invesco Ltd. lifted its position in shares of Atkore by 13.8% during the third quarter. Invesco Ltd. now owns 818,309 shares of the company’s stock worth $122,084,000 after purchasing an additional 99,345 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Atkore by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 629,420 shares of the company’s stock worth $100,707,000 after acquiring an additional 12,189 shares in the last quarter. Finally, Boston Partners raised its position in Atkore by 149.7% during the 3rd quarter. Boston Partners now owns 601,910 shares of the company’s stock valued at $88,670,000 after purchasing an additional 360,837 shares in the last quarter.

Insider Buying and Selling at Atkore

In other news, VP Daniel S. Kelly sold 8,685 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the transaction, the vice president now directly owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.07, for a total value of $1,503,112.95. Following the sale, the vice president now directly owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daniel S. Kelly sold 15,815 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $173.59, for a total value of $2,745,325.85. Following the completion of the sale, the vice president now directly owns 34,907 shares of the company’s stock, valued at approximately $6,059,506.13. The disclosure for this sale can be found here. Insiders have sold 148,464 shares of company stock valued at $25,124,751 over the last quarter. Corporate insiders own 2.56% of the company’s stock.

Wall Street Analyst Weigh In

ATKR has been the topic of several research reports. StockNews.com raised Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. Finally, Citigroup lifted their price objective on shares of Atkore from $176.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

Atkore Stock Up 0.6 %

Shares of ATKR stock traded up $0.99 during trading on Friday, reaching $176.25. The company’s stock had a trading volume of 533,025 shares, compared to its average volume of 470,827. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 10.57 and a beta of 2.19. Atkore Inc. has a 1-year low of $116.14 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. The stock’s 50-day moving average price is $176.60 and its 200 day moving average price is $154.71.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.08 by $1.04. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The company had revenue of $798.50 million for the quarter, compared to analyst estimates of $777.05 million. During the same period in the prior year, the firm posted $4.51 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. On average, research analysts anticipate that Atkore Inc. will post 15.06 EPS for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Monday, May 20th. Atkore’s payout ratio is currently 7.67%.

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.