Gotham Asset Management LLC Increases Stock Position in Atkore Inc. (NYSE:ATKR)

Gotham Asset Management LLC boosted its position in Atkore Inc. (NYSE:ATKR - Free Report) by 61.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,129 shares of the company's stock after purchasing an additional 7,293 shares during the quarter. Gotham Asset Management LLC owned about 0.06% of Atkore worth $1,596,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. E. Ohman J or Asset Management AB boosted its position in shares of Atkore by 55.2% during the 4th quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock valued at $26,569,000 after acquiring an additional 113,263 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Atkore by 10.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock valued at $111,467,000 after buying an additional 134,517 shares during the period. Barclays PLC boosted its holdings in Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company's stock valued at $5,994,000 after purchasing an additional 23,628 shares during the period. Swedbank AB boosted its stake in shares of Atkore by 18.4% in the 4th quarter. Swedbank AB now owns 296,791 shares of the company's stock valued at $24,767,000 after buying an additional 46,200 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Atkore by 17.4% during the 4th quarter. Principal Financial Group Inc. now owns 56,168 shares of the company's stock worth $4,687,000 after acquiring an additional 8,343 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ATKR shares. StockNews.com raised Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Royal Bank of Canada boosted their price target on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and decreased their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Citigroup cut their target price on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Roth Capital set a $78.00 target price on Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $77.57.

Insider Transactions at Atkore

In other 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 now owns 32,828 shares in the company, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 1.99% of the company's stock.

Atkore Stock Performance

Shares of NYSE:ATKR traded down $1.99 on Wednesday, reaching $66.24. The company's stock had a trading volume of 173,470 shares, compared to its average volume of 681,541. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $157.25. The stock has a market capitalization of $2.23 billion, a P/E ratio of 6.42 and a beta of 2.10. The stock's 50-day moving average is $62.53 and its two-hundred day moving average is $74.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96.

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, 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 net margin of 12.42% and a return on equity of 25.69%. Atkore's quarterly revenue was down 11.5% on a year-over-year basis. During the same period last year, the firm posted $4.08 EPS. As a group, sell-side analysts forecast that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Friday, May 16th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, May 16th. This is a positive change from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio is currently 25.38%.

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.