Atkore Inc. (NYSE:ATKR) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 33.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 628,300 shares of the company's stock after purchasing an additional 157,470 shares during the quarter. Victory Capital Management Inc. owned approximately 1.81% of Atkore worth $37,692,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its holdings 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. GAMMA Investing LLC grew 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 acquiring an additional 515 shares during the period. Versant Capital Management Inc lifted its holdings in shares of 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 purchasing an additional 542 shares in the last quarter. Signaturefd LLC lifted its holdings in Atkore by 384.0% during the first quarter. Signaturefd LLC now owns 905 shares of the company's stock worth $54,000 after acquiring an additional 718 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in Atkore by 3,333.3% during the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company's stock worth $86,000 after acquiring an additional 1,000 shares during the period.

Atkore Trading Up 2.5%

Shares of ATKR traded up $1.80 during mid-day trading on Tuesday, reaching $74.79. 161,217 shares of the company's stock traded hands, compared to its average volume of 661,409. The stock has a market cap of $2.52 billion, a P/E ratio of 14.38 and a beta of 2.05. The stock's 50-day moving average is $69.77 and its two-hundred day moving average is $68.53. Atkore Inc. has a 12 month low of $49.92 and a 12 month high of $146.52. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.02 and a quick ratio of 1.98.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly 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 during 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%. Atkore's quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.08 earnings per share. Research analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were issued a $0.33 dividend. This is a positive change from Atkore's previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.77%. Atkore's payout ratio is presently 25.38%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, the insider owned 32,828 shares in the company, valued at $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on ATKR shares. Citigroup reiterated a "neutral" rating and set a $80.00 price target (up from $70.00) on shares of Atkore in a report on Monday, June 9th. Roth Capital set a $78.00 price target on Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. KeyCorp lifted their price target on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada boosted their target price on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.