EP Wealth Advisors LLC Buys 276 Shares of Atkore Inc. (NYSE:ATKR)

EP Wealth Advisors LLC boosted its stake in Atkore Inc. (NYSE:ATKR) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,364 shares of the company’s stock after acquiring an additional 276 shares during the period. EP Wealth Advisors LLC’s holdings in Atkore were worth $615,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Algert Global LLC lifted its stake in Atkore by 36.0% in the fourth quarter. Algert Global LLC now owns 171,161 shares of the company’s stock valued at $14,283,000 after buying an additional 45,267 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Atkore in the fourth quarter valued at approximately $225,000. AQR Capital Management LLC lifted its stake in Atkore by 6.7% in the fourth quarter. AQR Capital Management LLC now owns 49,939 shares of the company’s stock valued at $4,167,000 after buying an additional 3,150 shares during the period. AdvisorShares Investments LLC acquired a new position in Atkore in the fourth quarter valued at approximately $476,000. Finally, Northern Trust Corp lifted its stake in Atkore by 9.3% in the fourth quarter. Northern Trust Corp now owns 384,624 shares of the company’s stock valued at $32,097,000 after buying an additional 32,792 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ATKR shares. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and dropped their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Roth Capital set a $78.00 target price on Atkore and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada upped their target price on Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Citigroup lowered their target price on Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, KeyCorp upped their target price on Atkore from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.57.

Atkore Price Performance

Shares of NYSE:ATKR opened at $67.95 on Monday. The stock’s 50 day moving average is $61.77 and its 200-day moving average is $75.23. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $159.30. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 6.58 and a beta of 2.10. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business had revenue of $701.73 million during the quarter, compared to the consensus estimate of $690.83 million. During the same quarter in the prior year, the company posted $4.08 earnings per share. Atkore’s revenue was down 11.5% compared to the same quarter last year. Sell-side analysts forecast that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.32 annualized dividend and a yield of 1.94%. This is an increase from Atkore’s previous quarterly dividend of $0.32. Atkore’s dividend payout ratio is 25.38%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the transaction, the insider now owns 32,828 shares in the company, valued at $2,270,384.48. This represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is currently owned by corporate insiders.

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.