Ausbil Investment Management Ltd Increases Position in Atkore Inc. (NYSE:ATKR)

Ausbil Investment Management Ltd increased its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 720.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,424 shares of the company's stock after buying an additional 28,471 shares during the quarter. Atkore comprises about 1.3% of Ausbil Investment Management Ltd's holdings, making the stock its 29th largest position. Ausbil Investment Management Ltd owned approximately 0.09% of Atkore worth $1,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van Den Berg Management I Inc. lifted its holdings in Atkore by 0.4% in the 4th quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock valued at $3,425,000 after purchasing an additional 158 shares in the last quarter. Isthmus Partners LLC lifted its stake in shares of Atkore by 0.8% during the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company's stock valued at $1,789,000 after buying an additional 162 shares during the period. Xponance Inc. boosted its position in Atkore by 6.9% during the fourth quarter. Xponance Inc. now owns 2,569 shares of the company's stock worth $214,000 after acquiring an additional 166 shares during the last quarter. MetLife Investment Management LLC grew its stake in Atkore by 0.8% in the 4th quarter. MetLife Investment Management LLC now owns 21,357 shares of the company's stock worth $1,782,000 after acquiring an additional 171 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in Atkore by 3.0% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,039 shares of the company's stock worth $362,000 after acquiring an additional 177 shares during the period.

Analyst Ratings Changes

ATKR has been the topic of several analyst reports. KeyCorp raised their price objective on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. 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 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 reissued a "neutral" rating and set a $80.00 price objective (up from $70.00) on shares of Atkore in a research note on Monday, June 9th. Finally, Roth Capital set a $78.00 target price on Atkore and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $79.57.

Atkore Stock Down 0.7%

NYSE ATKR opened at $66.23 on Monday. The company has a quick ratio of 1.98, a current ratio of 3.02 and a debt-to-equity ratio of 0.54. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $153.32. The business has a 50 day moving average price of $65.58 and a two-hundred day moving average price of $70.22. The stock has a market cap of $2.23 billion, a PE ratio of 12.74 and a beta of 2.06.

Atkore (NYSE:ATKR - Get Free Report) last posted its 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 business had revenue of $701.73 million for the quarter, compared to analysts' expectations of $690.83 million. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The business's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.08 earnings per share. As a group, sell-side analysts predict that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Atkore's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 16th. Atkore's dividend payout ratio is presently 25.38%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the sale, the insider now owns 32,828 shares of the company's stock, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.99% of the stock is currently owned by corporate insiders.

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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