Harber Asset Management LLC Grows Stake in Atkore Inc. (NYSE:ATKR)

Harber Asset Management LLC grew its holdings in Atkore Inc. (NYSE:ATKR) by 37.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 58,604 shares of the company’s stock after buying an additional 15,944 shares during the quarter. Atkore makes up about 2.2% of Harber Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. Harber Asset Management LLC owned approximately 0.16% of Atkore worth $9,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ATKR. Boston Partners lifted its holdings in Atkore by 98.9% in the 4th quarter. Boston Partners now owns 1,197,025 shares of the company’s stock worth $191,329,000 after buying an additional 595,115 shares during the period. Norges Bank purchased a new stake in Atkore in the 4th quarter worth approximately $68,109,000. River Road Asset Management LLC lifted its holdings 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 during the period. Balyasny Asset Management L.P. lifted its holdings in Atkore by 121.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 243,695 shares of the company’s stock worth $38,991,000 after buying an additional 133,622 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Atkore by 78.4% in the 3rd quarter. Clearbridge Investments LLC now owns 278,691 shares of the company’s stock worth $41,578,000 after acquiring an additional 122,516 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on ATKR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 target price on shares of Atkore in a research report on Friday, March 22nd. StockNews.com lowered Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Citigroup decreased their target price on Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th.

Insiders Place Their Bets

In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of Atkore stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the completion of the sale, the director now owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of Atkore stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the completion of the sale, the director now owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total value of $78,835.00. Following the completion of the sale, the insider now directly owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,698 shares of company stock valued at $1,503,850. Corporate insiders own 2.56% of the company’s stock.

Atkore Stock Down 0.7 %

ATKR stock traded down $0.97 on Monday, reaching $140.44. 512,109 shares of the company traded hands, compared to its average volume of 501,580. Atkore Inc. has a one year low of $121.00 and a one year high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98. The company has a market cap of $5.12 billion, a P/E ratio of 8.76 and a beta of 2.16. The firm has a fifty day simple moving average of $164.54 and a 200-day simple moving average of $159.19.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The company had revenue of $792.90 million during the quarter, compared to analyst estimates of $808.22 million. During the same quarter last year, the company earned $4.31 EPS. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. Research analysts anticipate that Atkore Inc. will post 14.93 earnings per share for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Monday, May 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

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.