Atkore Inc. (NYSE:ATKR) Shares Acquired by North Growth Management Ltd.

North Growth Management Ltd. increased its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 94.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,000 shares of the company's stock after buying an additional 35,000 shares during the period. North Growth Management Ltd. owned about 0.21% of Atkore worth $4,320,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Willis Investment Counsel grew its holdings in Atkore by 17.3% during the 1st quarter. Willis Investment Counsel now owns 6,278 shares of the company's stock worth $377,000 after acquiring an additional 928 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Atkore by 3.0% in the first quarter. SummerHaven Investment Management LLC now owns 6,039 shares of the company's stock valued at $362,000 after purchasing an additional 177 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Atkore in the 1st quarter valued at $1,841,000. GAMMA Investing LLC increased its position in Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after buying an additional 515 shares during the period. Finally, Harbor Capital Advisors Inc. raised 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 purchasing an additional 259 shares during the last quarter.

Atkore Price Performance

ATKR traded up $1.57 on Tuesday, hitting $70.00. 301,729 shares of the company were exchanged, compared to its average volume of 663,634. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $153.32. The firm has a market capitalization of $2.36 billion, a P/E ratio of 13.46 and a beta of 2.06. The business's fifty day moving average is $65.79 and its 200 day moving average is $70.07. 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 announced its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.52. The company had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The firm's quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.08 earnings per share. As a group, sell-side analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Atkore's previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 16th. Atkore's dividend payout ratio is presently 25.38%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup reaffirmed 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. Royal Bank Of Canada increased their price objective on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. KeyCorp boosted their target price on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Roth Capital set a $78.00 price objective on shares of Atkore and gave the company a "buy" rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $79.57.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated 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 now owns 32,828 shares of the company's stock, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.99% of the company's stock.

About Atkore

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.