Voya Investment Management LLC Has $16.83 Million Position in Atkore Inc. (NYSE:ATKR)

Voya Investment Management LLC lifted its position in Atkore Inc. (NYSE:ATKR - Free Report) by 1,593.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,665 shares of the company's stock after acquiring an additional 189,757 shares during the quarter. Voya Investment Management LLC owned 0.58% of Atkore worth $16,829,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ATKR. Jones Financial Companies Lllp boosted its holdings in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after purchasing an additional 186 shares during the period. Pacer Advisors Inc. lifted its position in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after buying an additional 195 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Atkore by 3,333.3% in the 4th 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 during the period. KBC Group NV grew its position in shares of 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 raised its stake in Atkore by 88.5% during the fourth quarter. Covestor Ltd now owns 1,889 shares of the company's stock worth $157,000 after acquiring an additional 887 shares during the period.

Wall Street Analyst Weigh In

ATKR has been the subject of several recent research reports. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and lowered their target price for the company from $115.00 to $65.00 in a report on Monday, February 10th. KeyCorp reduced their price target on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup decreased their target price on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada increased their price objective on Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.00.

Atkore Trading Up 1.9 %

Shares of NYSE ATKR traded up $1.21 during mid-day trading on Friday, hitting $65.80. 365,051 shares of the company traded hands, compared to its average volume of 697,225. The business has a 50 day moving average of $61.11 and a two-hundred day moving average of $76.23. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 6.37 and a beta of 2.02. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $180.62.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the previous year, the business earned $4.12 earnings per share. The firm's revenue was down 17.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal 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 paid a $0.33 dividend. This is an increase from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, May 16th. Atkore's dividend payout ratio is currently 12.39%.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares of the company's stock, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.99% of the company's stock.

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.