Atkore Inc. (NYSE:ATKR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,397 shares of the company's stock after selling 6,214 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of Atkore worth $14,421,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of Atkore during the 4th quarter worth $898,000. Raymond James Financial Inc. bought a new stake in Atkore in the 4th quarter valued at $8,524,000. Harbour Investments Inc. increased 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 worth $86,000 after buying an additional 1,000 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Atkore in the 4th quarter worth about $280,000. Finally, Intech Investment Management LLC increased its holdings in shares of Atkore by 22.3% in the 4th quarter. Intech Investment Management LLC now owns 18,391 shares of the company's stock worth $1,535,000 after buying an additional 3,358 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on ATKR shares. Roth Capital set a $78.00 price objective on shares of Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada boosted their price objective 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 company an "overweight" rating in a research note on Wednesday, May 7th. Citigroup reiterated 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. Finally, Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $79.57.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction 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 transaction, the insider directly owned 32,828 shares of the company's stock, valued at $2,270,384.48. This represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.99% of the stock is currently owned by company insiders.

Atkore Trading Up 3.7%

Shares of ATKR traded up $2.78 during trading on Wednesday, reaching $77.91. 557,185 shares of the company traded hands, compared to its average volume of 664,139. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $140.99. The stock has a market cap of $2.62 billion, a PE ratio of 14.98 and a beta of 2.05. The stock has a 50-day simple moving average of $70.04 and a 200-day simple moving average of $68.64. 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 (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. During the same quarter in the previous year, the business posted $4.08 earnings per share. The business's quarterly revenue was down 11.5% compared to the same quarter last year. On average, analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors 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. The ex-dividend date was Friday, May 16th. This represents a $1.32 annualized dividend and a yield of 1.69%. Atkore's dividend payout ratio is 25.38%.

Atkore 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.