Universal Beteiligungs und Servicegesellschaft mbH Invests $10.21 Million in Atkore Inc. (NYSE:ATKR)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Atkore Inc. (NYSE:ATKR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 122,312 shares of the company's stock, valued at approximately $10,207,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.35% of Atkore at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp grew its position in Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after acquiring an additional 186 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after purchasing an additional 195 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock worth $86,000 after buying an additional 1,000 shares during the period. KBC Group NV raised its holdings in Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after buying an additional 469 shares during the last quarter. Finally, Covestor Ltd boosted its position in Atkore by 88.5% during the 4th quarter. Covestor Ltd now owns 1,889 shares of the company's stock valued at $157,000 after buying an additional 887 shares during the period.

Atkore Stock Down 1.1%

Atkore stock traded down $0.75 on Wednesday, hitting $67.25. 219,858 shares of the stock traded hands, compared to its average volume of 673,935. The business's fifty day simple moving average is $63.06 and its 200 day simple moving average is $72.47. The firm has a market cap of $2.26 billion, a P/E ratio of 6.51 and a beta of 2.10. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. 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 EPS for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. During the same quarter in the previous year, the firm posted $4.08 earnings per share. Atkore's quarterly revenue was down 11.5% on a year-over-year basis. As a group, sell-side analysts forecast 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 was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, May 16th. This is a positive change from Atkore's previous quarterly dividend of $0.32. Atkore's payout ratio is currently 25.38%.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 32,828 shares of the company's stock, valued at approximately $2,270,384.48. This represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ATKR shares. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. KeyCorp upped their price target on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Roth Capital set a $78.00 target price on Atkore and gave the company a "buy" rating in a research note 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 research note on Wednesday, May 7th. Finally, Citigroup cut their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.57.

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.