Atkore Inc. (NYSE:ATKR) Stock Holdings Reduced by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,280 shares of the company's stock after selling 5,300 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Atkore were worth $1,033,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ATKR. Jones Financial Companies Lllp increased its stake in shares of Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock valued at $33,000 after acquiring an additional 186 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Atkore by 97.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock valued at $32,000 after purchasing an additional 259 shares during the period. GAMMA Investing LLC increased its position in shares of Atkore by 1,514.7% during the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after purchasing an additional 515 shares during the period. Versant Capital Management Inc raised its stake in shares of Atkore by 358.9% in the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after buying an additional 542 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after buying an additional 1,000 shares during the period.

Atkore Trading Up 3.2%

Shares of NYSE:ATKR traded up $2.29 during mid-day trading on Thursday, hitting $74.69. The stock had a trading volume of 589,097 shares, compared to its average volume of 660,084. The company's 50 day moving average is $69.47 and its 200-day moving average is $68.91. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $148.70. 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 company has a market cap of $2.51 billion, a PE ratio of 14.36 and a beta of 2.05.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (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 company had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. During the same quarter in the prior year, the company earned $4.08 earnings per share. The company's revenue for the quarter was down 11.5% on a year-over-year basis. On average, sell-side analysts predict that Atkore Inc. will post 5.79 EPS for the current 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 paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, May 16th. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's payout ratio is 25.38%.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the firm's 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 completion of the sale, the insider directly owned 32,828 shares in the company, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. 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 corporate insiders.

Wall Street Analysts Forecast Growth

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

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.