DekaBank Deutsche Girozentrale Sells 5,300 Shares of Atkore Inc. (NYSE:ATKR)

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

A number of other hedge funds have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its position in shares of Atkore by 97.0% during the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock valued at $32,000 after purchasing an additional 259 shares in the last quarter. Jones Financial Companies Lllp lifted its position in 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 buying an additional 186 shares during the period. GAMMA Investing LLC boosted its holdings 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 buying an additional 515 shares in the last quarter. Versant Capital Management Inc grew its position 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 during the period. Finally, Harbour Investments Inc. increased its stake 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 acquiring an additional 1,000 shares in the last quarter.

Atkore Stock Down 1.5%

Shares of ATKR traded down $1.10 on Monday, hitting $73.87. 388,910 shares of the stock traded hands, compared to its average volume of 580,896. Atkore Inc. has a one year low of $49.92 and a one year high of $153.32. The company has a market capitalization of $2.49 billion, a PE ratio of 14.21 and a beta of 2.05. The business has a 50 day simple moving average of $69.08 and a 200 day simple moving average of $69.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 3.02.

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. Atkore had a return on equity of 20.81% and a net margin of 6.48%. The business had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. During the same quarter last year, the company earned $4.08 EPS. The company's quarterly revenue was down 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.32 annualized dividend and a yield of 1.79%. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio (DPR) is currently 25.38%.

Wall Street Analyst Weigh In

ATKR has been the topic of several research reports. Citigroup reissued a "neutral" rating and set a $80.00 price objective (up previously from $70.00) on shares of Atkore in a research note on Monday, June 9th. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada upped their price target on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. KeyCorp lifted their price objective on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, Roth Capital set a $78.00 target price on Atkore and gave the stock a "buy" rating in a 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.57.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the business'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 completion of the sale, the insider directly owned 32,828 shares in the company, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.99% of the company's stock.

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.