Atkore Inc. (NYSE:ATKR) Stake Increased by Rock Point Advisors LLC

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

A number of other large investors have also modified their holdings of ATKR. Jones Financial Companies Lllp raised its stake in shares of Atkore by 87.7% during 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 last quarter. Harbor Capital Advisors Inc. grew its stake in Atkore by 97.0% during the first 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. GAMMA Investing LLC boosted its holdings in Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after acquiring an additional 515 shares in the last quarter. Versant Capital Management Inc increased its stake 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 purchasing an additional 542 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Atkore by 3,333.3% during the fourth 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 last quarter.

Insider Transactions at Atkore

In other Atkore 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 completion of the sale, the insider directly owned 32,828 shares in the company, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Atkore Price Performance

NYSE:ATKR opened at $75.43 on Thursday. The business's 50-day moving average is $68.43 and its 200 day moving average is $69.19. Atkore Inc. has a 12 month low of $49.92 and a 12 month high of $153.32. The company has a market capitalization of $2.54 billion, a P/E ratio of 14.51 and a beta of 2.05. The company has a current ratio of 3.02, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

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, beating 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 net margin of 6.48% and a return on equity of 20.81%. Atkore's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the firm posted $4.08 earnings per share. On average, equities research analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were issued a $0.33 dividend. The ex-dividend date was Friday, May 16th. This is an increase from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. Atkore's dividend payout ratio (DPR) is currently 25.38%.

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.

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