Rock Point Advisors LLC Purchases 5,917 Shares of Atkore Inc. (NYSE:ATKR)

Rock Point Advisors LLC increased its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 54,296 shares of the company's stock after purchasing an additional 5,917 shares during the quarter. Rock Point Advisors LLC owned approximately 0.16% of Atkore worth $3,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in Atkore by 195.6% in the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock worth $98,009,000 after purchasing an additional 777,113 shares in the last quarter. Gates Capital Management Inc. boosted its stake in Atkore by 29.6% in the fourth quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company's stock worth $217,584,000 after purchasing an additional 595,774 shares in the last quarter. Wellington Management Group LLP boosted its stake in Atkore by 549.9% in the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock worth $50,658,000 after purchasing an additional 513,631 shares in the last quarter. Norges Bank acquired a new position in Atkore in the fourth quarter worth $42,339,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Atkore in the fourth quarter worth $21,369,000.

Analyst Ratings Changes

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

Atkore Stock Performance

NYSE:ATKR traded down $1.18 during trading hours on Friday, reaching $74.98. The stock had a trading volume of 105,521 shares, compared to its average volume of 660,565. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 3.02. The stock has a 50 day simple moving average of $68.66 and a 200 day simple moving average of $69.23. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $153.32. The stock has a market cap of $2.52 billion, a P/E ratio of 14.42 and a beta of 2.05.

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, topping analysts' consensus estimates of $1.52 by $0.52. The firm had revenue of $701.73 million during 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 business's revenue for the quarter was down 11.5% on a year-over-year basis. During the same period last year, the company earned $4.08 earnings per share. On average, research analysts forecast that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were paid a $0.33 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.76%. This is an increase from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio is presently 25.38%.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the transaction, the insider directly owned 32,828 shares of the company's stock, valued at $2,270,384.48. This represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.99% of the company's stock.

Atkore 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.