Teacher Retirement System of Texas Decreases Position in Atkore Inc. (NYSE:ATKR)

Teacher Retirement System of Texas lessened its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,232 shares of the company's stock after selling 20,951 shares during the period. Teacher Retirement System of Texas owned 0.06% of Atkore worth $1,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after purchasing an additional 259 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after purchasing an additional 186 shares in the last quarter. GAMMA Investing LLC lifted its stake in Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after purchasing an additional 515 shares in the last quarter. Versant Capital Management Inc lifted its stake in Atkore by 358.9% in the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after purchasing an additional 542 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in Atkore by 3,333.3% in the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter.

Atkore Trading Down 0.5%

Shares of NYSE:ATKR traded down $0.36 during mid-day trading on Wednesday, reaching $72.39. 532,252 shares of the company were exchanged, compared to its average volume of 659,063. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.02 and a quick ratio of 1.98. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 13.92 and a beta of 2.05. The firm's 50-day simple moving average is $69.37 and its 200 day simple moving average is $68.89. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $153.32.

Atkore (NYSE:ATKR - Get Free Report) last posted 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 analysts' expectations of $690.83 million. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The firm's quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the company posted $4.08 EPS. Equities research analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.82%. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio (DPR) is presently 25.38%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction that occurred on 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 filing with the SEC, which is available at this link. Insiders own 1.99% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.