23,420 Shares in Atkore Inc. $ATKR Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 23,420 Atkore shares in the second quarter, valued at approximately $1.78 million and representing a 0.07% stake.
• Atkore exceeded quarterly expectations, reporting $1.92 in EPS versus the $1.53 consensus estimate and revenue of $794.8 million, above forecasts of $756.2 million.
• Atkore’s shares opened at $93.77, near their 12-month high of $94.14. The company also paid a quarterly dividend of $0.33 per share, while analysts maintained a consensus “Hold” rating.

Public Employees Retirement System of Ohio bought a new stake in Atkore Inc. (NYSE:ATKR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,420 shares of the company's stock, valued at approximately $1,781,000. Public Employees Retirement System of Ohio owned 0.07% of Atkore as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ATKR. Global Retirement Partners LLC acquired a new position in shares of Atkore during the 2nd quarter worth approximately $28,000. Kestra Investment Management LLC raised its position in shares of Atkore by 710.9% in the second quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock valued at $31,000 after buying an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Atkore by 1,263.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company's stock valued at $32,000 after buying an additional 480 shares in the last quarter. Strs Ohio bought a new stake in shares of Atkore in the first quarter valued at approximately $36,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock valued at $39,000 after buying an additional 246 shares during the period.

Insider Transactions at Atkore

In other Atkore news, insider Mark Lamps sold 300 shares of Atkore stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the transaction, the insider directly owned 35,803 shares of the company's stock, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.

Atkore Stock Performance

NYSE:ATKR opened at $93.77 on Monday. Atkore Inc. has a twelve month low of $53.75 and a twelve month high of $94.14. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59. The stock's 50-day simple moving average is $83.21 and its 200 day simple moving average is $75.07. The firm has a market capitalization of $3.17 billion, a PE ratio of -19.49 and a beta of 1.68.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The business had revenue of $794.80 million during the quarter, compared to analysts' expectations of $756.23 million. During the same period in the prior year, the company earned $2.17 EPS. On average, analysts anticipate that Atkore Inc. will post 5.15 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Atkore's dividend payout ratio (DPR) is currently -27.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Royal Bank Of Canada set a $76.00 price objective on Atkore in a research note on Thursday, July 16th. Weiss Ratings raised Atkore from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 12th. Roth Capital lowered shares of Atkore from a "buy" rating to a "neutral" rating and raised their target price for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $143.33.

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.

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