Atkore Inc. $ATKR Shares Purchased by Ausbil Investment Management Ltd

Key Points

• Ausbil Investment Management increased its Atkore stake by 219.6% during the second quarter, owning 35,147 shares valued at approximately $2.55 million. Several other institutional investors also added to their positions.
• Atkore reported quarterly EPS of $1.92, beating estimates of $1.53, while revenue reached $794.8 million versus expectations of $756.2 million. Shares opened at $93.75, near their 12-month high of $93.88.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a reported average price target of $143.33. The company also declared a quarterly dividend of $0.33 per share, representing a 1.4% annualized yield.

Ausbil Investment Management Ltd boosted its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 219.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,147 shares of the company's stock after acquiring an additional 24,149 shares during the quarter. Atkore comprises about 1.1% of Ausbil Investment Management Ltd's holdings, making the stock its 29th largest holding. Ausbil Investment Management Ltd owned approximately 0.10% of Atkore worth $2,546,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Kestra Investment Management LLC boosted its position in Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock valued at $31,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in 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 purchasing an additional 480 shares during the last quarter. Strs Ohio purchased a new position in Atkore in the first quarter valued at about $36,000. Jones Financial Companies Lllp grew its stake in Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock valued at $39,000 after purchasing an additional 246 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Atkore during the 4th quarter valued at approximately $77,000.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 300 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the sale, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings restated a "sell (d)" rating on shares of Atkore in a report on Wednesday, July 29th. Citigroup raised their price target on shares of Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research note on Sunday, July 26th. Roth Capital cut shares of Atkore from a "buy" rating to a "neutral" rating and upped their price target for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. One equities research 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 company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $143.33.

Atkore Price Performance

Shares of NYSE ATKR opened at $93.75 on Tuesday. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -19.49 and a beta of 1.68. Atkore Inc. has a twelve month low of $53.49 and a twelve month high of $93.88. The business has a 50 day simple moving average of $78.07 and a 200-day simple moving average of $71.77.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.The firm had revenue of $794.80 million for the quarter, compared to analysts' expectations of $756.23 million. During the same period last year, the business posted $2.17 earnings per share. As a group, equities research analysts expect that Atkore Inc. will post 4.75 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. Atkore's dividend payout ratio is -27.44%.

Atkore 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.

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