Chase Investment Counsel Corp Purchases 2,000 Shares of Atkore Inc. (NYSE:ATKR)

Chase Investment Counsel Corp grew its position in Atkore Inc. (NYSE:ATKR) by 15.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,000 shares of the company’s stock after acquiring an additional 2,000 shares during the period. Chase Investment Counsel Corp’s holdings in Atkore were worth $1,251,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ATKR. E. Ohman J or Asset Management AB raised its position in Atkore by 55.2% during the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after purchasing an additional 113,263 shares during the last quarter. Wellington Management Group LLP bought a new position in Atkore during the 3rd quarter worth $7,916,000. Y Intercept Hong Kong Ltd raised its position in Atkore by 729.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock worth $2,358,000 after purchasing an additional 24,476 shares during the last quarter. M&G PLC bought a new position in Atkore during the 3rd quarter worth $9,123,000. Finally, Van ECK Associates Corp raised its position in Atkore by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,927 shares of the company’s stock worth $2,136,000 after purchasing an additional 7,123 shares during the last quarter.

Insider Activity

In related news, Director Jeri L. Isbell sold 3,353 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. 1.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ATKR shares. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Roth Capital raised Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. KeyCorp decreased their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Roth Mkm started coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

Atkore Stock Performance

Shares of Atkore stock opened at $61.51 on Friday. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $77.31 and a two-hundred day moving average price of $85.04. Atkore Inc. has a 1-year low of $60.53 and a 1-year high of $194.98. The company has a market cap of $2.14 billion, a P/E ratio of 5.95 and a beta of 2.12.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the business posted $4.12 EPS. As a group, analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.08%. Atkore’s dividend payout ratio is presently 12.39%.

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.