Victory Capital Management Inc. Buys 157,470 Shares of Atkore Inc. (NYSE:ATKR)

Victory Capital Management Inc. boosted its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 33.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 628,300 shares of the company's stock after acquiring an additional 157,470 shares during the period. Victory Capital Management Inc. owned 1.81% of Atkore worth $37,692,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ATKR. Harbor Capital Advisors Inc. raised its stake in Atkore by 97.0% in the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock valued at $32,000 after buying an additional 259 shares in the last quarter. GAMMA Investing LLC raised its stake in Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after buying an additional 515 shares in the last quarter. Versant Capital Management Inc raised its stake in Atkore by 358.9% in the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock valued at $42,000 after buying an additional 542 shares in the last quarter. Signaturefd LLC raised its stake in Atkore by 384.0% in the first quarter. Signaturefd LLC now owns 905 shares of the company's stock valued at $54,000 after buying an additional 718 shares in the last quarter. Finally, Harbour Investments Inc. raised its stake in Atkore by 3,333.3% in the fourth 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 in the last quarter.

Analyst Upgrades and Downgrades

ATKR has been the topic of several research reports. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Citigroup reissued 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. Royal Bank Of Canada lifted their price objective on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. KeyCorp lifted their price objective on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Roth Capital set a $78.00 price objective on Atkore and gave the company a "buy" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Atkore presently has an average rating of "Moderate Buy" and a consensus target price of $79.57.

Atkore Stock Up 3.7%

Shares of ATKR stock traded up $2.78 during trading on Wednesday, hitting $77.91. 557,185 shares of the company were exchanged, compared to its average volume of 664,139. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 3.02. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 14.98 and a beta of 2.05. The business's 50-day simple moving average is $70.04 and its 200 day simple moving average is $68.64. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $140.99.

Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results 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 6.48% and a return on equity of 20.81%. The firm had revenue of $701.73 million for the quarter, compared to the consensus estimate of $690.83 million. During the same period in the prior year, the business posted $4.08 earnings per share. The business's quarterly revenue was down 11.5% on a year-over-year basis. As a group, analysts forecast that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were paid a $0.33 dividend. The ex-dividend date was Friday, May 16th. This is a positive change from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.69%. Atkore's dividend payout ratio is presently 25.38%.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction 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 directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.99% of the company's stock.

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.