Deutsche Bank AG Raises Position in Atkore Inc. (NYSE:ATKR)

Deutsche Bank AG boosted its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 46.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,728 shares of the company's stock after buying an additional 39,306 shares during the period. Deutsche Bank AG owned approximately 0.36% of Atkore worth $10,325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATKR. Barclays PLC boosted its stake in Atkore by 50.2% during the 3rd quarter. Barclays PLC now owns 70,736 shares of the company's stock valued at $5,994,000 after purchasing an additional 23,628 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Atkore by 2,642.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,947 shares of the company's stock worth $2,499,000 after buying an additional 28,855 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of Atkore by 16.7% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 3,799 shares of the company's stock worth $317,000 after buying an additional 544 shares during the last quarter. KBC Group NV boosted its stake in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock worth $121,000 after buying an additional 469 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after buying an additional 195 shares during the last quarter.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, the insider now owns 32,828 shares in the company, valued at $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.99% of the stock is owned by company insiders.

Atkore Stock Down 0.8%

Shares of Atkore stock traded down $0.53 during trading on Tuesday, hitting $68.08. 276,428 shares of the stock traded hands, compared to its average volume of 682,722. 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 stock's fifty day simple moving average is $62.42 and its 200 day simple moving average is $74.52. The firm has a market cap of $2.29 billion, a P/E ratio of 6.59 and a beta of 2.10. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $157.25.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.52. The firm had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company's revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.08 EPS. On average, equities analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.32 dividend on an annualized basis and a yield of 1.94%. This is a positive change from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio is currently 25.38%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ATKR. StockNews.com upgraded Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Roth Capital set a $78.00 price target on Atkore and gave the company a "buy" rating in a report on Wednesday, May 7th. KeyCorp lifted their target price on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Royal Bank of Canada boosted their price objective on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Finally, Citigroup dropped their price objective on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Atkore presently has a consensus rating of "Moderate Buy" and an average target price of $77.57.

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.