GAMMA Investing LLC Boosts Position in Atkore Inc. (NYSE:ATKR)

GAMMA Investing LLC increased its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 96,767.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,935 shares of the company's stock after acquiring an additional 32,901 shares during the quarter. GAMMA Investing LLC owned approximately 0.09% of Atkore worth $19,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. 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 buying an additional 186 shares during the period. Versant Capital Management Inc grew its stake in shares of Atkore by 358.9% in the first 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. Harbour Investments Inc. increased its stake in Atkore by 3,333.3% during 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 in the last quarter. KBC Group NV raised its holdings in Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock worth $121,000 after acquiring an additional 469 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Atkore by 88.5% during the fourth quarter. Covestor Ltd now owns 1,889 shares of the company's stock valued at $157,000 after purchasing an additional 887 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. KeyCorp lifted their target price on shares of Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. 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 target price on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Loop Capital lowered shares of Atkore from a "buy" rating to a "hold" rating and lowered their price objective for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, Citigroup raised their price target on Atkore from $70.00 to $80.00 and gave the stock a "neutral" rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.57.

Atkore Trading Up 1.9%

Shares of NYSE:ATKR traded up $1.31 during trading on Monday, reaching $69.62. 380,895 shares of the company were exchanged, compared to its average volume of 670,870. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $153.32. The firm has a market capitalization of $2.34 billion, a PE ratio of 6.74 and a beta of 2.06. The business's fifty day simple moving average is $63.35 and its 200-day simple moving average is $72.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96.

Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. The business had revenue of $701.73 million for the quarter, compared to the consensus estimate of $690.83 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company's revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.08 EPS. On average, research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were issued a $0.33 dividend. This is a boost from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, May 16th. Atkore's dividend payout ratio (DPR) is currently 25.38%.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the business'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 sale, the insider now owns 32,828 shares of the company's stock, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.99% of the company's stock.

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.