Rose Capital Advisors LLC Makes New $1.13 Million Investment in Atkore Inc. $ATKR

Key Points

• Rose Capital Advisors acquired 14,811 Atkore shares worth approximately $1.13 million during the second quarter, while several other institutional investors also increased or initiated positions.
• Analyst sentiment remains mixed, with Atkore holding an average “Hold” rating; one analyst rates it Strong Buy, four rate it Hold, and one rates it Sell.
• Atkore reported quarterly EPS of $1.92, beating estimates of $1.53, and revenue of $794.8 million, above the $756.2 million consensus forecast. The company also paid a quarterly dividend of $0.33 per share, equivalent to a 1.4% yield.

Rose Capital Advisors LLC acquired a new stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,811 shares of the company's stock, valued at approximately $1,126,000.

A number of other large investors also recently modified their holdings of ATKR. Jones Financial Companies Lllp raised its holdings in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock valued at $39,000 after acquiring an additional 246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Atkore by 15.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company's stock worth $7,009,000 after acquiring an additional 16,028 shares during the period. Intech Investment Management LLC grew its position in shares of Atkore by 59.7% during the first quarter. Intech Investment Management LLC now owns 29,363 shares of the company's stock worth $1,761,000 after purchasing an additional 10,972 shares in the last quarter. Strs Ohio bought a new stake in Atkore during the 1st quarter valued at approximately $36,000. Finally, Norges Bank bought a new stake in Atkore during the 2nd quarter valued at approximately $467,000.

Analyst Ratings Changes

ATKR has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $76.00 price target on Atkore in a report on Thursday, July 16th. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a report on Sunday, July 26th. Roth Capital cut shares of Atkore from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $85.00 to $92.00 in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Atkore from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $143.33.

Atkore Price Performance

ATKR stock opened at $93.77 on Friday. Atkore Inc. has a 52 week low of $53.75 and a 52 week high of $94.14. The firm has a market capitalization of $3.17 billion, a P/E ratio of -19.49 and a beta of 1.68. The company has a fifty day simple moving average of $83.21 and a two-hundred day simple moving average of $75.01. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59.

Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.39. The firm had revenue of $794.80 million for the quarter, compared to the consensus estimate of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same period in the previous year, the firm posted $2.17 EPS. Analysts anticipate that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Atkore's payout ratio is presently -27.44%.

Insiders Place Their Bets

In other Atkore news, insider Mark Lamps sold 300 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the sale, the insider directly owned 35,803 shares in the company, valued at $3,356,531.25. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.10% of the stock is owned by insiders.

Atkore Company Profile

Atkore International Group Inc NYSE: ATKR is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company's electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.

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