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Ausbil Investment Management Ltd Purchases 28,471 Shares of Atkore Inc. (NYSE:ATKR)

Atkore logo with Industrials background

Ausbil Investment Management Ltd lifted its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 720.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 32,424 shares of the company's stock after acquiring an additional 28,471 shares during the period. Atkore accounts for 1.3% of Ausbil Investment Management Ltd's portfolio, making the stock its 29th biggest holding. Ausbil Investment Management Ltd owned about 0.09% of Atkore worth $1,945,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. First Trust Advisors LP raised its stake in Atkore by 195.6% during the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock valued at $98,009,000 after acquiring an additional 777,113 shares in the last quarter. Gates Capital Management Inc. increased its holdings in shares of Atkore by 29.6% during the fourth quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company's stock valued at $217,584,000 after purchasing an additional 595,774 shares during the period. Wellington Management Group LLP raised its stake in shares of Atkore by 549.9% during the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock valued at $50,658,000 after purchasing an additional 513,631 shares in the last quarter. Norges Bank acquired a new stake in Atkore in the fourth quarter worth about $42,339,000. Finally, Victory Capital Management Inc. lifted its holdings in Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock worth $39,291,000 after purchasing an additional 459,200 shares during the period.

Insider Activity

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 transaction of $69,160.00. Following the transaction, the insider now owns 32,828 shares in the company, 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 SEC, which can be accessed through the SEC website. 1.99% of the stock is owned by company insiders.

Atkore Stock Performance

Shares of Atkore stock traded up $0.83 on Thursday, reaching $70.82. The stock had a trading volume of 263,626 shares, compared to its average volume of 661,282. 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 business's 50-day moving average price is $66.29 and its two-hundred day moving average price is $70.07. The stock has a market cap of $2.38 billion, a P/E ratio of 13.62 and a beta of 2.06. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $153.32.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share 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 net margin of 6.48% and a return on equity of 20.81%. The business's revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.08 EPS. On average, sell-side analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, May 16th. This is a positive change from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.86%. Atkore's payout ratio is 25.38%.

Analyst Ratings Changes

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

Read Our Latest Report on ATKR

Atkore Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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