Boston Partners Boosts Stock Holdings in Atkore Inc. (NYSE:ATKR)

Boston Partners grew its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 98.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,197,025 shares of the company's stock after purchasing an additional 595,115 shares during the period. Boston Partners owned approximately 3.26% of Atkore worth $191,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in Atkore by 4.4% in the third quarter. Commonwealth Equity Services LLC now owns 4,907 shares of the company's stock valued at $732,000 after buying an additional 205 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Atkore by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 198,222 shares of the company's stock worth $29,573,000 after purchasing an additional 4,032 shares during the last quarter. Advisor Partners II LLC purchased a new stake in Atkore in the 3rd quarter worth approximately $537,000. Park Avenue Securities LLC purchased a new stake in Atkore in the 3rd quarter worth approximately $778,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Atkore by 208.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,856 shares of the company's stock valued at $1,321,000 after buying an additional 5,988 shares during the period.

Wall Street Analysts Forecast Growth

ATKR has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Atkore from $200.00 to $188.00 and set a "neutral" rating for the company in a research report on Wednesday, May 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $187.00 target price on shares of Atkore in a report on Friday, March 22nd. Finally, StockNews.com lowered shares of Atkore from a "buy" rating to a "hold" rating in a research note on Wednesday, May 8th.

Insider Activity at Atkore

In related news, VP Leangela W. Lowe sold 6,500 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the sale, the vice president now directly owns 25,590 shares of the company's stock, valued at $4,505,631.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Leangela W. Lowe sold 6,500 shares of Atkore stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $176.07, for a total value of $1,144,455.00. Following the transaction, the vice president now directly owns 25,590 shares of the company's stock, valued at $4,505,631.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William E. Jr. Waltz sold 43,072 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at $13,434,743.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,464 shares of company stock worth $25,124,751. 2.56% of the stock is owned by company insiders.

Atkore Price Performance

Shares of NYSE:ATKR traded down $0.24 during midday trading on Monday, hitting $155.97. The stock had a trading volume of 577,290 shares, compared to its average volume of 493,855. The company's 50-day moving average price is $175.78 and its 200-day moving average price is $156.36. The company has a market capitalization of $5.68 billion, a P/E ratio of 9.72 and a beta of 2.19. The company has a quick ratio of 1.98, a current ratio of 3.09 and a debt-to-equity ratio of 0.49. Atkore Inc. has a fifty-two week low of $116.14 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR - Get Free Report) last posted its earnings results on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.86. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The firm had revenue of $792.90 million for the quarter, compared to analyst estimates of $808.22 million. During the same period in the previous year, the firm posted $4.31 EPS. The company's revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities research analysts predict that Atkore Inc. will post 15.06 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, May 21st will be given a dividend of $0.32 per share. The ex-dividend date is Monday, May 20th. This represents a $1.28 annualized dividend and a yield of 0.82%. Atkore's payout ratio is currently 7.98%.

About Atkore

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.

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