Mutual of America Capital Management LLC Sells 13,101 Shares of Atkore Inc. (NYSE:ATKR)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Atkore in the 4th quarter valued at $8,524,000. Harbour Investments Inc. grew its holdings in shares of 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 acquiring an additional 1,000 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Atkore in the 4th quarter valued at about $280,000. Xponance Inc. increased its position in shares of Atkore by 6.9% in the fourth quarter. Xponance Inc. now owns 2,569 shares of the company's stock valued at $214,000 after acquiring an additional 166 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Atkore by 1,049.1% during the fourth quarter. Teacher Retirement System of Texas now owns 42,183 shares of the company's stock worth $3,520,000 after acquiring an additional 38,512 shares in the last quarter.

Atkore Stock Performance

ATKR traded up $0.59 on Thursday, reaching $78.55. The company had a trading volume of 605,346 shares, compared to its average volume of 487,686. The company's fifty day moving average is $70.22 and its 200 day moving average is $68.59. 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 market cap of $2.64 billion, a P/E ratio of 15.10 and a beta of 2.05. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $140.10.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. Atkore had a return on equity of 20.81% and a net margin of 6.48%. The firm had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. During the same period in the prior year, the firm posted $4.08 EPS. The company's revenue for the quarter was down 11.5% on a year-over-year basis. As a group, analysts predict 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. Investors of record on Friday, May 16th were paid a $0.33 dividend. This is a boost from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, May 16th. Atkore's payout ratio is 25.38%.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm's 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 owned 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

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

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.