Teacher Retirement System of Texas Has $1.27 Million Stake in Atkore Inc. (NYSE:ATKR)

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

A number of other institutional investors have also recently added to or reduced their stakes in the company. Gates Capital Management Inc. lifted its position in Atkore by 29.6% in the fourth quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company's stock worth $217,584,000 after purchasing an additional 595,774 shares during the period. First Trust Advisors LP lifted its position in Atkore by 195.6% in the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock worth $98,009,000 after purchasing an additional 777,113 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Atkore by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company's stock valued at $91,028,000 after acquiring an additional 6,234 shares during the last quarter. LSV Asset Management boosted its position in shares of Atkore by 24.2% in the 4th quarter. LSV Asset Management now owns 924,100 shares of the company's stock valued at $77,116,000 after purchasing an additional 180,160 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock valued at $50,658,000 after purchasing an additional 513,631 shares during the period.

Atkore Stock Performance

ATKR traded down $0.85 during midday trading on Monday, reaching $74.13. The company's stock had a trading volume of 26,643 shares, compared to its average volume of 658,518. The stock has a market cap of $2.49 billion, a P/E ratio of 14.29 and a beta of 2.05. The company has a fifty day simple moving average of $69.08 and a 200 day simple moving average of $69.03. 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 Inc. has a twelve month low of $49.92 and a twelve month high of $153.32.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. The firm had revenue of $701.73 million for 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 company's revenue was down 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.08 EPS. Research analysts expect that Atkore Inc. will post 5.79 earnings per share for the current 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 a boost from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Friday, May 16th. Atkore's dividend payout ratio (DPR) is 25.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ATKR shares. Royal Bank Of Canada increased 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. KeyCorp increased their price objective on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating and set a $80.00 price target (up from $70.00) on shares of Atkore in a research note on Monday, June 9th. Wall Street Zen raised 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 target on Atkore and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Atkore has a consensus rating of "Moderate Buy" and a consensus target price of $79.57.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the transaction, the insider directly owned 32,828 shares of the company's stock, valued at $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.99% of the stock is currently owned by company 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.