Paradiem LLC Sells 4,958 Shares of Atkore Inc. (NYSE:ATKR)

Paradiem LLC trimmed its stake in shares of Atkore Inc. (NYSE:ATKR) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,766 shares of the company’s stock after selling 4,958 shares during the quarter. Paradiem LLC’s holdings in Atkore were worth $4,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in Atkore during the fourth quarter worth about $26,000. Orion Capital Management LLC purchased a new position in Atkore during the third quarter worth about $30,000. Anchor Investment Management LLC purchased a new position in Atkore during the fourth quarter worth about $32,000. NBC Securities Inc. purchased a new position in Atkore during the third quarter worth about $54,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Atkore during the fourth quarter worth about $72,000.

Atkore Trading Up 1.0 %

ATKR traded up $1.78 during midday trading on Friday, reaching $182.99. 256,834 shares of the company’s stock traded hands, compared to its average volume of 512,445. The firm has a fifty day moving average of $173.49 and a two-hundred day moving average of $153.46. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 10.97 and a beta of 2.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. Atkore Inc. has a 52 week low of $116.14 and a 52 week high of $194.98.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $3.08 by $1.04. The business had revenue of $798.50 million during the quarter, compared to analyst estimates of $777.05 million. Atkore had a return on equity of 46.79% and a net margin of 18.80%. Atkore’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.51 EPS. On average, equities analysts anticipate that Atkore Inc. will post 15.06 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Monday, February 26th. Atkore’s dividend payout ratio is currently 7.67%.

Analyst Ratings Changes

Several research firms recently commented on ATKR. StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Citigroup boosted their target price on Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 price objective on shares of Atkore in a report on Friday, March 22nd.

Insider Transactions at Atkore

In other news, insider John W. Pregenzer sold 6,548 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $158.49, for a total value of $1,037,792.52. Following the completion of the transaction, the insider now owns 30,430 shares of the company’s stock, valued at approximately $4,822,850.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Daniel S. Kelly sold 8,685 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.07, for a total value of $1,503,112.95. Following the sale, the vice president now owns 34,907 shares in the company, valued at approximately $6,041,354.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John W. Pregenzer sold 6,548 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $158.49, for a total value of $1,037,792.52. Following the completion of the sale, the insider now owns 30,430 shares in the company, valued at approximately $4,822,850.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,464 shares of company stock valued at $25,124,751. Corporate insiders own 2.56% of the company’s stock.

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.