First Hawaiian Bank Acquires New Holdings in Atkore Inc. (NYSE:ATKR)

First Hawaiian Bank bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,533 shares of the company's stock, valued at approximately $572,000.

A number of other large investors also recently bought and sold shares of ATKR. Van Den Berg Management I Inc. increased its holdings in Atkore by 0.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock valued at $3,425,000 after buying an additional 158 shares in the last quarter. Isthmus Partners LLC increased its stake in shares of Atkore by 0.8% in the 4th quarter. Isthmus Partners LLC now owns 21,441 shares of the company's stock valued at $1,789,000 after purchasing an additional 162 shares in the last quarter. Xponance Inc. increased its stake in shares of Atkore by 6.9% in the 4th quarter. Xponance Inc. now owns 2,569 shares of the company's stock valued at $214,000 after purchasing an additional 166 shares in the last quarter. Willis Investment Counsel raised its holdings in Atkore by 3.3% in the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company's stock worth $446,000 after purchasing an additional 171 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in Atkore by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 21,357 shares of the company's stock valued at $1,782,000 after purchasing an additional 171 shares during the period.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the sale, the insider now owns 32,828 shares of the company's stock, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.99% of the stock is currently owned by insiders.

Atkore Price Performance

ATKR stock traded down $0.75 during mid-day trading on Wednesday, reaching $67.25. The company's stock had a trading volume of 219,858 shares, compared to its average volume of 673,935. 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 company's 50 day moving average is $63.06 and its two-hundred day moving average is $72.47. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $153.32. The stock has a market cap of $2.26 billion, a PE ratio of 6.51 and a beta of 2.10.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating 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 return on equity of 25.69% and a net margin of 12.42%. The business's revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.08 earnings per share. Equities research analysts expect that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were given a dividend of $0.33 per share. This is a boost from Atkore's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.96%. Atkore's payout ratio is presently 25.38%.

Wall Street Analysts Forecast Growth

ATKR has been the subject of a number of research reports. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and cut their price objective for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Royal Bank of Canada increased their target price on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. KeyCorp lifted their price target on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, Citigroup dropped their price target on Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.57.

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.