KBC Group NV Raises Position in Atkore Inc. (NYSE:ATKR)

KBC Group NV grew its position in Atkore Inc. (NYSE:ATKR) by 47.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,452 shares of the company’s stock after purchasing an additional 469 shares during the quarter. KBC Group NV’s holdings in Atkore were worth $121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of ATKR. Linden Thomas Advisory Services LLC grew its position in shares of Atkore by 16.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 3,799 shares of the company’s stock valued at $317,000 after purchasing an additional 544 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Atkore by 2,642.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 29,947 shares of the company’s stock valued at $2,499,000 after buying an additional 28,855 shares during the last quarter. Lakewood Asset Management LLC grew its holdings in Atkore by 1.4% during the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock valued at $756,000 after buying an additional 126 shares in the last quarter. Matrix Trust Co increased its stake in Atkore by 657.7% in the 4th quarter. Matrix Trust Co now owns 2,129 shares of the company’s stock worth $178,000 after acquiring an additional 1,848 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Atkore by 4.7% during the 4th quarter. Nordea Investment Management AB now owns 107,399 shares of the company’s stock worth $8,965,000 after acquiring an additional 4,869 shares in the last quarter.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $65.30 on Friday. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50. Atkore Inc. has a 12 month low of $62.62 and a 12 month high of $194.98. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 5.17 and a beta of 2.12. The firm’s 50-day moving average is $84.05 and its 200 day moving average is $91.14.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same quarter in the prior year, the firm posted $4.12 earnings per share. The company’s quarterly revenue was down 17.1% on a year-over-year basis. Research analysts predict that Atkore Inc. will post 6.62 EPS for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.96%. Atkore’s payout ratio is 10.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Loop Capital dropped their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp dropped their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Atkore presently has an average rating of “Moderate Buy” and a consensus price target of $111.50.

Insider Activity at Atkore

In other news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,924 shares of company stock worth $1,614,975. Company insiders own 1.99% of the company’s stock.

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.