Edgestream Partners L.P. Invests $4.31 Million in Atkore Inc. (NYSE:ATKR)

Edgestream Partners L.P. purchased a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 71,866 shares of the company's stock, valued at approximately $4,311,000. Edgestream Partners L.P. owned about 0.21% of Atkore as of its most recent SEC filing.

Several other large investors have also modified their holdings of ATKR. Harbor Capital Advisors Inc. increased its position in Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock valued at $32,000 after acquiring an additional 259 shares in the last quarter. Jones Financial Companies Lllp increased its position in Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock valued at $33,000 after acquiring an additional 186 shares in the last quarter. GAMMA Investing LLC increased its position in Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after acquiring an additional 515 shares in the last quarter. Versant Capital Management Inc boosted 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 valued at $42,000 after purchasing an additional 542 shares during the last quarter. Finally, Harbour Investments Inc. boosted 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 valued at $86,000 after purchasing an additional 1,000 shares during the last quarter.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the transaction, the insider owned 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ATKR. Citigroup reaffirmed a "neutral" rating and issued a $80.00 price target (up previously from $70.00) on shares of Atkore in a research note on Monday, June 9th. KeyCorp boosted their target price on shares of Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada boosted their target price on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" 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 research note on Wednesday, May 7th. Four research 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 an average rating of "Moderate Buy" and an average price target of $79.57.

Atkore Stock Down 0.8%

Shares of NYSE ATKR traded down $0.60 during mid-day trading on Friday, hitting $74.24. 1,253,617 shares of the stock traded hands, compared to its average volume of 663,733. 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 Inc. has a 52 week low of $49.92 and a 52 week high of $146.52. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 14.28 and a beta of 2.05. The stock has a fifty day moving average price of $69.71 and a 200-day moving average price of $68.80.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly 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 firm had revenue of $701.73 million for the quarter, compared to the consensus estimate of $690.83 million. During the same period in the prior year, the company posted $4.08 earnings per share. The company's quarterly revenue was down 11.5% on a year-over-year basis. Research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The business 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. The ex-dividend date was Friday, May 16th. This is an increase from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.78%. Atkore's payout ratio is 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.