Helen Stephens Group LLC Takes $218,000 Position in Atkore Inc. (NYSE:ATKR)

Helen Stephens Group LLC bought a new stake in shares of Atkore Inc. (NYSE:ATKR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,573 shares of the company’s stock, valued at approximately $218,000.

A number of other hedge funds have also recently modified their holdings of ATKR. Tower Research Capital LLC TRC boosted its holdings in shares of Atkore by 311.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,264 shares of the company’s stock valued at $1,642,000 after buying an additional 7,767 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake 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 purchasing an additional 133,622 shares in the last quarter. Bridgewater Associates LP boosted its stake in Atkore by 12.9% in the 4th quarter. Bridgewater Associates LP now owns 94,625 shares of the company’s stock worth $15,140,000 after purchasing an additional 10,807 shares in the last quarter. Argent Capital Management LLC boosted its stake in Atkore by 1.3% in the 4th quarter. Argent Capital Management LLC now owns 15,191 shares of the company’s stock worth $2,431,000 after purchasing an additional 194 shares in the last quarter. Finally, Palisade Capital Management LP boosted its stake in Atkore by 4.7% in the 4th quarter. Palisade Capital Management LP now owns 117,173 shares of the company’s stock worth $18,748,000 after purchasing an additional 5,248 shares in the last quarter.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several research analyst reports. B. Riley lowered their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. KeyCorp lowered their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Loop Capital lowered their target price on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Royal Bank of Canada lowered shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.60.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Atkore Trading Down 2.0 %

Atkore stock opened at $84.45 on Wednesday. Atkore Inc. has a 12-month low of $80.11 and a 12-month high of $194.98. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 5.26 and a beta of 2.14. The firm has a 50 day moving average of $92.76 and a 200 day moving average of $133.35.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.28. The business had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.13 EPS. As a group, research analysts predict that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. Atkore’s dividend payout ratio is currently 7.98%.

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.