State of Wyoming Invests $377,000 in Atkore Inc. (NYSE:ATKR)

State of Wyoming purchased a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 4,523 shares of the company's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. E. Ohman J or Asset Management AB raised its stake in shares of Atkore by 55.2% during the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock worth $26,569,000 after acquiring an additional 113,263 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Atkore by 10.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock worth $111,467,000 after purchasing an additional 134,517 shares during the last quarter. Barclays PLC grew its holdings in Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company's stock worth $5,994,000 after purchasing an additional 23,628 shares during the last quarter. Swedbank AB increased its position in shares of Atkore by 18.4% during the fourth quarter. Swedbank AB now owns 296,791 shares of the company's stock worth $24,767,000 after purchasing an additional 46,200 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Atkore by 17.4% during the fourth quarter. Principal Financial Group Inc. now owns 56,168 shares of the company's stock worth $4,687,000 after purchasing an additional 8,343 shares in the last quarter.

Atkore Stock Performance

ATKR stock traded down $0.52 during midday trading on Friday, hitting $65.30. 251,974 shares of the stock traded hands, compared to its average volume of 682,256. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $157.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The stock's fifty day simple moving average is $62.56 and its 200-day simple moving average is $73.87. The firm has a market cap of $2.20 billion, a P/E ratio of 6.32 and a beta of 2.10.

Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $701.73 million for the quarter, compared to analysts' expectations of $690.83 million. During the same period last year, the firm earned $4.08 EPS. The company's quarterly revenue was down 11.5% on a year-over-year basis. On average, analysts expect that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, May 16th. This is a positive change from Atkore's previous quarterly dividend of $0.32. Atkore's payout ratio is presently 25.38%.

Analysts Set New Price Targets

ATKR has been the subject of a number of recent analyst reports. 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. Royal Bank of Canada raised their price target on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. KeyCorp upped their price objective on shares of Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Citigroup decreased their price objective on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Atkore has an average rating of "Moderate Buy" and a consensus target price of $77.57.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of Atkore 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 now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. The trade was a 2.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.99% of the stock is 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.