Elevation Point Wealth Partners LLC Makes New $97,000 Investment in Atkore Inc. $ATKR

Elevation Point Wealth Partners LLC acquired a new stake in Atkore Inc. (NYSE:ATKR) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,370 shares of the company’s stock, valued at approximately $97,000.

Several other institutional investors have also added to or reduced their stakes in the business. Gates Capital Management Inc. raised its stake in shares of Atkore by 25.2% in the first quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company’s stock worth $195,871,000 after purchasing an additional 657,707 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Atkore by 109.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 535,162 shares of the company’s stock worth $37,756,000 after buying an additional 279,385 shares in the last quarter. Nuveen LLC bought a new stake in Atkore in the 1st quarter worth about $11,502,000. American Century Companies Inc. raised its position in Atkore by 20.6% in the 2nd quarter. American Century Companies Inc. now owns 1,013,259 shares of the company’s stock worth $71,485,000 after buying an additional 172,754 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Atkore by 24.1% during the 1st quarter. Wellington Management Group LLP now owns 753,107 shares of the company’s stock valued at $45,179,000 after acquiring an additional 146,066 shares during the period.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $64.75, for a total transaction of $64,750.00. Following the completion of the sale, the insider owned 29,923 shares of the company’s stock, valued at approximately $1,937,514.25. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.99% of the company’s stock.

Atkore Stock Performance

Shares of NYSE ATKR opened at $65.37 on Tuesday. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $95.72. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 20.95 and a beta of 2.12. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $65.11 and a 200 day moving average of $65.91.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.61). The business had revenue of $752.01 million during the quarter, compared to the consensus estimate of $733.61 million. Atkore had a return on equity of 16.16% and a net margin of 3.89%.The firm’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.43 earnings per share. On average, research analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, December 5th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, December 5th. This represents a $1.32 annualized dividend and a yield of 2.0%. Atkore’s payout ratio is -253.85%.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of research analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Atkore in a research note on Friday, November 14th. Citigroup dropped their target price on shares of Atkore from $66.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Weiss Ratings upgraded shares of Atkore from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, November 25th. Finally, Roth Capital lowered their price target on Atkore from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Atkore presently has an average rating of “Hold” and a consensus target price of $74.00.

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.