Pacer Advisors Inc. Has $21.94 Million Stock Holdings in Atkore Inc. (NYSE:ATKR)

Key Points

• Pacer Advisors Inc. significantly increased its stake in Atkore Inc. by 43,389.8%, acquiring 364,908 additional shares during the first quarter, bringing its total holdings to approximately 365,749 shares valued at $21.9 million.
• Atkore recently reported earnings of $2.04 per share for the quarter, exceeding analysts' expectations of $1.52, despite a year-over-year revenue decline of 11.5%.
• The company declared a quarterly dividend of $0.33, marking an increase from the prior dividend of $0.32, resulting in an annualized dividend yield of 1.66%.

Pacer Advisors Inc. boosted its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 43,389.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,749 shares of the company's stock after acquiring an additional 364,908 shares during the period. Pacer Advisors Inc. owned 1.05% of Atkore worth $21,941,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its stake in Atkore by 952.0% in the first quarter. CWM LLC now owns 5,565 shares of the company's stock valued at $334,000 after acquiring an additional 5,036 shares during the period. GAMMA Investing LLC increased its stake in Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after acquiring an additional 515 shares during the period. KBC Group NV increased its stake in Atkore by 29.5% in the first quarter. KBC Group NV now owns 1,881 shares of the company's stock valued at $113,000 after acquiring an additional 429 shares during the period. Principal Financial Group Inc. grew its stake in Atkore by 3.6% during the first quarter. Principal Financial Group Inc. now owns 58,174 shares of the company's stock worth $3,490,000 after buying an additional 2,006 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Atkore by 97.0% during the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after buying an additional 259 shares during the last quarter.

Insiders Place Their Bets

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

Analyst Ratings Changes

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

Atkore Stock Down 0.1%

Atkore stock traded down $0.05 during mid-day trading on Wednesday, reaching $78.00. The company's stock had a trading volume of 47,967 shares, compared to its average volume of 573,565. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 14.99 and a beta of 2.05. Atkore Inc. has a 12 month low of $49.92 and a 12 month high of $139.00. The business's 50 day simple moving average is $70.83 and its 200 day simple moving average is $68.38. 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 released its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. The business had revenue of $701.73 million during the quarter, compared to the consensus estimate of $690.83 million. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The firm's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.08 earnings per share. As a group, research analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

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.