Royce & Associates LP Raises Stake in Atkore Inc. (NYSE:ATKR)

Royce & Associates LP increased its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 8.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 447,425 shares of the company's stock after purchasing an additional 34,673 shares during the period. Royce & Associates LP owned 1.29% of Atkore worth $26,841,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its holdings in shares of 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. GAMMA Investing LLC raised its holdings in shares of 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 raised its holdings 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 acquiring an additional 542 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Atkore by 384.0% in the 1st quarter. Signaturefd LLC now owns 905 shares of the company's stock valued at $54,000 after acquiring an additional 718 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Atkore by 29.5% in the 1st quarter. KBC Group NV now owns 1,881 shares of the company's stock valued at $113,000 after acquiring an additional 429 shares in the last quarter.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the sale, the insider directly owned 32,828 shares in the company, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.99% of the company's stock.

Atkore Stock Performance

NYSE:ATKR traded up $1.06 during mid-day trading on Thursday, hitting $79.02. 79,376 shares of the company traded hands, compared to its average volume of 577,573. The stock's fifty day moving average price is $70.04 and its 200-day moving average price is $68.64. Atkore Inc. has a one year low of $49.92 and a one year high of $140.10. The company has a quick ratio of 1.98, a current ratio of 3.02 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 15.21 and a beta of 2.05.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.52. The firm had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. Atkore had a return on equity of 20.81% and a net margin of 6.48%. The business's quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.08 earnings per share. Research analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were given a $0.33 dividend. 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 1.67%. The ex-dividend date was Friday, May 16th. Atkore's payout ratio is currently 25.38%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ATKR shares. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. KeyCorp lifted their price objective on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Citigroup restated a "neutral" rating and set a $80.00 price target (up from $70.00) on shares of Atkore in a research report on Monday, June 9th. Royal Bank Of Canada lifted their price target on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Finally, Roth Capital set a $78.00 price target on Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.57.

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.

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