Mercer Global Advisors Inc. ADV Makes New $225,000 Investment in Atkore Inc. (NYSE:ATKR)

Mercer Global Advisors Inc. ADV purchased a new position in shares of Atkore Inc. (NYSE:ATKR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,698 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock worth $111,467,000 after acquiring an additional 134,517 shares during the last quarter. First Trust Advisors LP raised its stake in Atkore by 195.6% in the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock valued at $98,009,000 after purchasing an additional 777,113 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Atkore by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company’s stock valued at $91,028,000 after purchasing an additional 6,234 shares during the last quarter. LSV Asset Management raised its stake in Atkore by 24.2% in the 4th quarter. LSV Asset Management now owns 924,100 shares of the company’s stock valued at $77,116,000 after purchasing an additional 180,160 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock valued at $50,658,000 after purchasing an additional 513,631 shares during the last quarter.

Atkore Stock Down 0.9%

Shares of ATKR opened at $68.82 on Friday. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $157.25. The company has a market capitalization of $2.32 billion, a PE ratio of 6.66 and a beta of 2.10. The stock has a fifty day simple moving average of $62.33 and a two-hundred day simple moving average of $74.80. 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 issued its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the company earned $4.08 EPS. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, equities analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Atkore’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 16th. Atkore’s dividend payout ratio (DPR) is presently 25.38%.

Wall Street Analysts Forecast Growth

ATKR has been the subject of several recent research reports. Roth Capital set a $78.00 price objective on Atkore and gave the company a “buy” rating in a research note on Wednesday, May 7th. StockNews.com raised Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Royal Bank of Canada increased their price objective on Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and reduced their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, Citigroup reduced their price objective on Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Atkore has an average rating of “Moderate Buy” and an average price target of $77.57.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, the insider now directly owns 32,828 shares of the company’s stock, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.99% of the company’s stock.

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.