Aviance Capital Partners LLC Purchases 8,294 Shares of Atkore Inc. (NYSE:ATKR)

Aviance Capital Partners LLC increased its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 109.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,867 shares of the company's stock after purchasing an additional 8,294 shares during the period. Aviance Capital Partners LLC's holdings in Atkore were worth $952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ATKR. Harbor Capital Advisors Inc. increased its stake in Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after purchasing an additional 259 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after buying an additional 186 shares during the period. GAMMA Investing LLC raised its holdings in Atkore by 1,514.7% during the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after buying an additional 515 shares during the last quarter. Versant Capital Management Inc raised its holdings in Atkore by 358.9% during the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company's stock valued at $42,000 after buying an additional 542 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Atkore by 3,333.3% during the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after buying an additional 1,000 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ATKR. Citigroup restated a "neutral" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Atkore in a research report on Monday, June 9th. Royal Bank Of Canada boosted their price target on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Roth Capital set a $78.00 price objective on Atkore and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, KeyCorp upped their target price on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $79.57.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the sale, the insider directly owned 32,828 shares of the company's stock, valued at $2,270,384.48. The trade was a 2.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.99% of the company's stock.

Atkore Stock Down 0.2%

Atkore stock traded down $0.16 during trading hours on Friday, hitting $75.15. 248,020 shares of the stock traded hands, compared to its average volume of 663,609. Atkore Inc. has a one year low of $49.92 and a one year high of $153.32. The firm's 50-day moving average price is $67.99 and its two-hundred day moving average price is $69.40. The company has a current ratio of 3.02, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.53 billion, a PE ratio of 14.45 and a beta of 2.05.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.52. The company had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. Atkore had a return on equity of 20.81% and a net margin of 6.48%. The firm's revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.08 earnings per share. On average, research analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors 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. This represents a $1.32 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Friday, May 16th. Atkore's dividend payout ratio (DPR) is 25.38%.

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.