Round Hill Asset Management Purchases Shares of 7,876 Atkore Inc. (NYSE:ATKR)

Round Hill Asset Management acquired a new position in shares of Atkore Inc. (NYSE:ATKR) in the 4th quarter, HoldingsChannel reports. The fund acquired 7,876 shares of the company’s stock, valued at approximately $657,000.

A number of other hedge funds have also made changes to their positions in the business. Lakewood Asset Management LLC raised its stake in Atkore by 1.4% during the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after acquiring an additional 126 shares in the last quarter. Isthmus Partners LLC grew its holdings in shares of Atkore by 0.8% during the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock worth $1,789,000 after purchasing an additional 162 shares during the last quarter. Xponance Inc. increased its position in shares of Atkore by 6.9% during the fourth quarter. Xponance Inc. now owns 2,569 shares of the company’s stock worth $214,000 after purchasing an additional 166 shares in the last quarter. Willis Investment Counsel lifted its holdings in shares of Atkore by 3.3% in the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after purchasing an additional 171 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares during the period.

Atkore Price Performance

Shares of NYSE ATKR opened at $53.90 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The company has a market cap of $1.87 billion, a PE ratio of 5.22 and a beta of 2.02. The stock has a fifty day moving average price of $66.40 and a 200 day moving average price of $79.89. Atkore Inc. has a 1-year low of $50.40 and a 1-year high of $185.47.

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

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is 12.39%.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. This represents a 1.46 % decrease in their position. 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.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. KeyCorp cut their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and decreased their price target for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, Roth Mkm started coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.