Atkore Inc. (NYSE:ATKR) Stock Holdings Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 35.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,913 shares of the company's stock after selling 13,101 shares during the period. Mutual of America Capital Management LLC owned 0.07% of Atkore worth $1,435,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. grew its position in shares of 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 acquiring an additional 259 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after acquiring an additional 515 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Atkore by 358.9% during the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after acquiring an additional 542 shares during the last quarter. Harbour Investments Inc. grew its position in Atkore by 3,333.3% in 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 in the last quarter. Finally, KBC Group NV grew its position in Atkore by 29.5% in the 1st quarter. KBC Group NV now owns 1,881 shares of the company's stock valued at $113,000 after buying an additional 429 shares in the last quarter.

Analysts Set New Price Targets

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

Atkore Price Performance

Shares of NYSE ATKR opened at $74.24 on Monday. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $146.52. 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 capitalization of $2.50 billion, a price-to-earnings ratio of 14.28 and a beta of 2.05. The firm has a 50-day moving average of $69.71 and a two-hundred day moving average of $68.61.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly 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. 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 the consensus estimate of $690.83 million. During the same period in the prior year, the company earned $4.08 EPS. Atkore's revenue was down 11.5% on a year-over-year basis. As a group, analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were given a $0.33 dividend. This is an increase from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, May 16th. Atkore's dividend payout ratio (DPR) is 25.38%.

Insider Buying and Selling at Atkore

In other 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 value 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 trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.99% of the stock is currently owned by company insiders.

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.

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