Clear Creek Financial Management LLC Purchases Shares of 5,864 Atkore Inc. (NYSE:ATKR)

Clear Creek Financial Management LLC bought a new position in Atkore Inc. (NYSE:ATKR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,864 shares of the company's stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also modified their holdings of ATKR. Jones Financial Companies Lllp grew its holdings in Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 186 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Atkore by 97.0% during the 1st 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 holdings in Atkore by 1,514.7% during the 1st 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 holdings in Atkore by 358.9% during the 1st 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. Finally, Harbour Investments Inc. grew its holdings in Atkore by 3,333.3% during the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock worth $86,000 after acquiring an additional 1,000 shares during the last quarter.

Insiders Place Their Bets

In related 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 transaction of $69,160.00. Following the transaction, the insider owned 32,828 shares of the company's stock, 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 can be accessed through this link. 1.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Atkore Trading Down 0.2%

Shares of NYSE ATKR traded down $0.16 during mid-day trading on Friday, hitting $75.15. The company's stock had a trading volume of 248,020 shares, compared to its average volume of 663,609. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 14.45 and a beta of 2.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.02 and a quick ratio of 1.98. Atkore Inc. has a one year low of $49.92 and a one year high of $153.32. The company's fifty day simple moving average is $67.99 and its 200-day simple moving average is $69.40.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The business had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. During the same quarter last year, the firm earned $4.08 EPS. Atkore's quarterly revenue was down 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were paid a dividend of $0.33 per share. This is a positive change 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 1.76%. Atkore's dividend payout ratio (DPR) is presently 25.38%.

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.