SG Americas Securities LLC Makes New Investment in Atkore Inc. (NYSE:ATKR)

SG Americas Securities LLC bought a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,696 shares of the company's stock, valued at approximately $1,841,000. SG Americas Securities LLC owned approximately 0.09% of Atkore as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its position in shares of Atkore by 97.0% during 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 during the period. Jones Financial Companies Lllp raised its stake in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock valued at $33,000 after purchasing an additional 186 shares in the last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 515 shares during the period. Versant Capital Management Inc grew its stake in Atkore by 358.9% during the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after buying an additional 542 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in Atkore by 3,333.3% in the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock valued at $86,000 after buying an additional 1,000 shares during the period.

Analysts Set New Price Targets

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

Atkore Price Performance

Atkore stock traded up $0.14 during mid-day trading on Thursday, reaching $66.71. The company had a trading volume of 371,918 shares, compared to its average volume of 664,495. The business has a fifty day simple moving average of $65.21 and a 200 day simple moving average of $70.90. The company has a market cap of $2.24 billion, a P/E ratio of 12.83 and a beta of 2.06. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $153.32. The company has a current ratio of 3.02, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

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, beating the consensus estimate of $1.52 by $0.52. The company had revenue of $701.73 million for the quarter, compared to the consensus estimate of $690.83 million. Atkore had a return on equity of 20.81% and a net margin of 6.48%. Atkore's revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the business posted $4.08 EPS. On average, equities research analysts predict that Atkore Inc. will post 5.79 earnings per share 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 dividend of $0.33 per share. This is a boost from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Friday, May 16th. Atkore's payout ratio is 25.38%.

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of Atkore 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 directly owns 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.99% of the stock is currently owned by insiders.

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.