Ewing Morris & Co. Investment Partners Ltd. Invests $456,000 in Atkore Inc. $ATKR

Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of Atkore Inc. (NYSE:ATKR) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,000 shares of the company’s stock, valued at approximately $456,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Atkore in the second quarter worth about $236,958,000. Coliseum Capital Management LLC purchased a new position in shares of Atkore in the 4th quarter worth approximately $51,189,000. Earnest Partners LLC purchased a new position in shares of Atkore in the 4th quarter worth approximately $49,571,000. Hill City Capital LP purchased a new position in shares of Atkore in the 2nd quarter worth approximately $55,061,000. Finally, Bank of America Corp DE bought a new position in shares of Atkore during the 2nd quarter worth approximately $33,367,000.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 300 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the sale, the insider directly owned 35,803 shares of the company’s stock, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ATKR. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Weiss Ratings raised shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Citigroup upped their price target on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price objective on Atkore in a report on Thursday, July 16th. Finally, Roth Capital cut Atkore from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $85.00 to $92.00 in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $143.33.

Atkore Price Performance

Shares of ATKR opened at $93.66 on Thursday. The company has a market capitalization of $3.16 billion, a P/E ratio of -19.47 and a beta of 1.68. Atkore Inc. has a fifty-two week low of $53.75 and a fifty-two week high of $94.14. The business’s 50-day moving average is $82.61 and its two-hundred day moving average is $74.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.04 and a current ratio of 2.73.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.The business had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same quarter in the prior year, the firm posted $2.17 EPS. Research analysts predict that Atkore Inc. will post 5.15 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. Atkore’s dividend payout ratio is presently -27.44%.

About Atkore

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.