Easterly Investment Partners LLC boosted its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,564 shares of the company's stock after buying an additional 3,956 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.16% of Atkore worth $3,333,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP raised its position in shares of Atkore by 195.6% in the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock worth $98,009,000 after acquiring an additional 777,113 shares in the last quarter. Gates Capital Management Inc. raised its position in shares of Atkore by 29.6% in the 4th quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company's stock worth $217,584,000 after acquiring an additional 595,774 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock worth $50,658,000 after acquiring an additional 513,631 shares in the last quarter. Norges Bank bought a new position in shares of Atkore in the 4th quarter worth about $42,339,000. Finally, T. Rowe Price Investment Management Inc. bought a new position in shares of Atkore in the 4th quarter worth about $21,369,000.
Insider Buying and Selling at Atkore
In other news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction 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 transaction, the insider owned 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.99% of the stock is owned by company insiders.
Atkore Price Performance
ATKR traded down $0.60 during trading on Friday, reaching $74.24. The stock had a trading volume of 1,253,617 shares, compared to its average volume of 664,261. The business has a 50-day moving average of $69.71 and a 200-day moving average of $68.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 3.02. Atkore Inc. has a one year low of $49.92 and a one year high of $146.52. The stock has a market cap of $2.50 billion, a PE ratio of 14.28 and a beta of 2.05.
Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.52. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The company had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. During the same period in the prior year, the business posted $4.08 earnings per share. Atkore's revenue for the quarter was down 11.5% on a year-over-year basis. As a group, equities research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.
Atkore Increases Dividend
The company 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. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.78%. This is an increase from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio (DPR) is 25.38%.
Analyst Ratings Changes
A number of brokerages recently commented on ATKR. Citigroup reaffirmed a "neutral" rating and issued a $80.00 target price (up from $70.00) on shares of Atkore in a research report on Monday, June 9th. Royal Bank Of Canada boosted their target price on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Roth Capital set a $78.00 target price on Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. KeyCorp boosted their target price on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.57.
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About Atkore
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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.
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