Hussman Strategic Advisors Inc. Sells 15,750 Shares of Atkore Inc. (NYSE:ATKR)

Hussman Strategic Advisors Inc. reduced its holdings in shares of Atkore Inc. (NYSE:ATKR) by 60.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the company’s stock after selling 15,750 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Atkore were worth $1,680,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Orion Capital Management LLC bought a new stake in shares of Atkore in the third quarter valued at $30,000. Quarry LP grew its position in shares of Atkore by 72.4% in the second quarter. Quarry LP now owns 200 shares of the company’s stock valued at $31,000 after purchasing an additional 84 shares in the last quarter. Anchor Investment Management LLC purchased a new position in shares of Atkore in the fourth quarter valued at $32,000. Captrust Financial Advisors grew its position in shares of Atkore by 85.6% in the second quarter. Captrust Financial Advisors now owns 607 shares of the company’s stock valued at $50,000 after purchasing an additional 280 shares in the last quarter. Finally, Point72 Middle East FZE purchased a new position in shares of Atkore in the fourth quarter valued at $51,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ATKR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 price target on shares of Atkore in a research report on Friday, March 22nd. 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, StockNews.com upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Friday, April 5th.

Atkore Price Performance

Atkore stock opened at $171.82 on Monday. The business has a 50-day simple moving average of $170.17 and a 200 day simple moving average of $152.29. Atkore Inc. has a 52 week low of $116.14 and a 52 week high of $194.98. The company has a quick ratio of 1.99, a current ratio of 2.96 and a debt-to-equity ratio of 0.51. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 10.30 and a beta of 2.19.

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

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Monday, February 26th. Atkore’s dividend payout ratio (DPR) is presently 7.67%.

Insider Activity

In other news, VP Leangela W. Lowe sold 6,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $176.07, for a total value of $1,144,455.00. Following the completion of the sale, the vice president now owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Atkore news, CEO William E. Jr. Waltz sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $173.85, for a total transaction of $8,692,500.00. Following the completion of the transaction, the chief executive officer now owns 83,716 shares of the company’s stock, valued at approximately $14,554,026.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Leangela W. Lowe sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the transaction, the vice president now directly owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. 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. Insiders own 2.56% 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.