Proficio Capital Partners LLC Invests $898,000 in Atkore Inc. (NYSE:ATKR)

Proficio Capital Partners LLC bought a new position in shares of Atkore Inc. (NYSE:ATKR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,765 shares of the company’s stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ATKR. US Bancorp DE lifted its holdings in shares of Atkore by 19.6% during the third quarter. US Bancorp DE now owns 4,169 shares of the company’s stock worth $353,000 after buying an additional 683 shares in the last quarter. Van ECK Associates Corp raised its stake in Atkore by 40.0% in the third quarter. Van ECK Associates Corp now owns 24,927 shares of the company’s stock valued at $2,136,000 after purchasing an additional 7,123 shares in the last quarter. Covestor Ltd raised its stake in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after purchasing an additional 390 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Atkore by 46.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 19,804 shares of the company’s stock valued at $1,678,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Meixler Investment Management Ltd. raised its stake in Atkore by 108.3% in the third quarter. Meixler Investment Management Ltd. now owns 4,056 shares of the company’s stock valued at $344,000 after purchasing an additional 2,109 shares in the last quarter.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of analyst reports. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and dropped their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Roth Mkm began coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, KeyCorp decreased their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.17.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.99% of the stock is owned by corporate insiders.

Atkore Stock Up 0.4 %

ATKR stock opened at $64.96 on Friday. The stock has a fifty day moving average of $75.19 and a 200-day moving average of $83.83. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 6.29 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same quarter last year, the firm posted $4.12 EPS. The company’s revenue was down 17.1% compared to the same quarter last year. As a group, equities research analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.97%. Atkore’s dividend payout ratio is 12.39%.

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.