Ruffer LLP Makes New Investment in Atkore Inc. $ATKR

Ruffer LLP purchased a new stake in Atkore Inc. (NYSE:ATKR) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 44,841 shares of the company’s stock, valued at approximately $2,813,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bayforest Capital Ltd acquired a new position in shares of Atkore during the second quarter valued at $1,083,000. Wealth Enhancement Advisory Services LLC bought a new stake in Atkore in the 2nd quarter valued at about $298,000. Aviance Capital Partners LLC boosted its stake in Atkore by 26.7% during the 2nd quarter. Aviance Capital Partners LLC now owns 20,098 shares of the company’s stock valued at $1,418,000 after purchasing an additional 4,231 shares during the period. CWM LLC boosted its stake in Atkore by 14.2% during the 2nd quarter. CWM LLC now owns 6,357 shares of the company’s stock valued at $448,000 after purchasing an additional 792 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Atkore in the 2nd quarter worth about $628,000.

Atkore Price Performance

NYSE:ATKR opened at $68.36 on Thursday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $66.34 and its 200 day moving average price is $65.21. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $83.86. The firm has a market cap of $2.31 billion, a P/E ratio of -131.47 and a beta of 1.58.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.61). Atkore had a positive return on equity of 12.98% and a negative net margin of 0.53%.The business had revenue of $752.01 million during the quarter, compared to analyst estimates of $733.61 million. During the same period in the prior year, the firm earned $2.43 EPS. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, February 17th. Atkore’s dividend payout ratio is -253.85%.

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction on Monday, November 17th. The stock was sold at an average price of $64.75, for a total value of $64,750.00. Following the transaction, the insider directly owned 29,923 shares in the company, valued at $1,937,514.25. The trade was a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

ATKR has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Atkore in a research report on Monday, December 29th. CJS Securities upgraded Atkore to a “strong-buy” rating in a research report on Thursday, December 11th. Royal Bank Of Canada reissued a “sector perform” rating and set a $64.00 price target on shares of Atkore in a report on Thursday, January 15th. KeyCorp restated a “sector weight” rating on shares of Atkore in a research note on Friday, November 14th. Finally, Roth Mkm increased their target price on shares of Atkore from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $68.80.

Atkore Company Profile

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.