Avantax Advisory Services Inc. Purchases Shares of 1,774 Atkore Inc. (NYSE:ATKR)

Avantax Advisory Services Inc. acquired a new stake in shares of Atkore Inc. (NYSE:ATKR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,774 shares of the company’s stock, valued at approximately $284,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Atkore during the 4th quarter valued at about $26,000. Orion Capital Management LLC acquired a new position in Atkore in the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC purchased a new position in Atkore during the 4th quarter worth approximately $32,000. NBC Securities Inc. acquired a new stake in Atkore during the 3rd quarter valued at approximately $54,000. Finally, Montag A & Associates Inc. purchased a new stake in shares of Atkore in the 4th quarter valued at $58,000.

Atkore Stock Up 2.1 %

Shares of NYSE:ATKR opened at $156.00 on Friday. Atkore Inc. has a 52-week low of $116.14 and a 52-week high of $194.98. The stock has a market cap of $5.68 billion, a P/E ratio of 9.73 and a beta of 2.19. The business has a fifty day moving average of $173.01 and a two-hundred day moving average of $157.65. The company has a quick ratio of 1.98, a current ratio of 3.09 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.86. The firm had revenue of $792.90 million during the quarter, compared to analysts’ expectations of $808.22 million. Atkore had a net margin of 18.30% and a return on equity of 43.19%. Atkore’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business earned $4.31 earnings per share. On average, research analysts expect that Atkore Inc. will post 14.93 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Monday, May 20th. Atkore’s dividend payout ratio is presently 7.98%.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of research reports. Citigroup decreased their target price on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. StockNews.com downgraded Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 price target on shares of Atkore in a report on Friday, March 22nd.

Insider Buying and Selling

In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of Atkore stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the sale, the chief executive officer now owns 83,716 shares in the company, valued at $13,434,743.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Atkore news, CEO William E. Jr. Waltz sold 50,000 shares of the business’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 value of $8,692,500.00. Following the sale, the chief executive officer now owns 83,716 shares of the company’s stock, valued at $14,554,026.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William E. Jr. Waltz sold 43,072 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $160.48, for a total value of $6,912,194.56. Following the transaction, the chief executive officer now owns 83,716 shares in the company, valued at $13,434,743.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,964 shares of company stock worth $25,203,586. Company insiders own 2.56% of the company’s stock.

Atkore 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.