Cwm LLC Raises Position in Atkore Inc. (NYSE:ATKR)

Cwm LLC grew its position in Atkore Inc. (NYSE:ATKR) by 952.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,565 shares of the company’s stock after buying an additional 5,036 shares during the period. Cwm LLC’s holdings in Atkore were worth $334,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Gates Capital Management Inc. raised its holdings in Atkore by 29.6% in the fourth quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company’s stock worth $217,584,000 after buying an additional 595,774 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Atkore by 195.6% during the fourth 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 holdings in shares of Atkore by 0.6% during the fourth 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 holdings in shares of Atkore by 24.2% during the fourth 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 holdings in shares of Atkore by 549.9% during the fourth 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ATKR shares. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Citigroup reissued a “neutral” rating and set a $80.00 price objective (up from $70.00) on shares of Atkore in a report on Monday, June 9th. KeyCorp boosted their price objective on shares of Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Roth Capital set a $78.00 price objective on shares of Atkore and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.57.

Insider Buying and Selling at Atkore

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

Atkore Stock Performance

Shares of NYSE ATKR opened at $79.63 on Friday. The firm has a 50 day moving average of $70.43 and a 200 day moving average of $68.54. The company has a current ratio of 3.02, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.31 and a beta of 2.05. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $140.10.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.52. The company had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.08 earnings per share. On average, research analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th were given a $0.33 dividend. This is a positive change from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, May 16th. Atkore’s dividend payout ratio is presently 25.38%.

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.