Charles Schwab Investment Management Inc. Has $44.24 Million Position in Atkore Inc. (NYSE:ATKR)

Charles Schwab Investment Management Inc. lifted its stake in shares of Atkore Inc. (NYSE:ATKR) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 530,170 shares of the company’s stock after purchasing an additional 50,194 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.53% of Atkore worth $44,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Silver Coast Investments LLC grew its stake in shares of Atkore by 5.5% during the fourth quarter. Silver Coast Investments LLC now owns 5,465 shares of the company’s stock worth $456,000 after buying an additional 287 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after acquiring an additional 186 shares in the last quarter. Chase Investment Counsel Corp grew its position in Atkore by 15.4% during the 4th quarter. Chase Investment Counsel Corp now owns 15,000 shares of the company’s stock worth $1,251,000 after acquiring an additional 2,000 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Atkore in the 4th quarter worth about $898,000. Finally, Bank of New York Mellon Corp raised its position in Atkore by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company’s stock valued at $20,580,000 after purchasing an additional 110,107 shares during the last quarter.

Atkore Price Performance

ATKR stock opened at $64.55 on Friday. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 6.25 and a beta of 2.22. The company’s fifty day simple moving average is $73.29 and its 200 day simple moving average is $82.70. Atkore Inc. has a 12-month low of $55.91 and a 12-month high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. During the same period in the previous year, the business earned $4.12 EPS. The firm’s revenue was down 17.1% compared to the same quarter last year. On average, analysts expect that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is 12.39%.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ATKR has been the subject of several recent research reports. KeyCorp lowered their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, Roth Mkm assumed coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Atkore presently has a consensus rating of “Moderate Buy” and an average target price of $103.17.

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.