SG Americas Securities LLC Makes New Investment in Atkore Inc. (NYSE:ATKR)

SG Americas Securities LLC purchased a new stake in Atkore Inc. (NYSE:ATKR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 30,696 shares of the company’s stock, valued at approximately $1,841,000. SG Americas Securities LLC owned 0.09% of Atkore as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised 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 acquiring an additional 259 shares during the period. Jones Financial Companies Lllp grew its position in shares of Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $33,000 after purchasing an additional 515 shares during the period. Versant Capital Management Inc increased its stake in shares of Atkore by 358.9% in the first quarter. Versant Capital Management Inc now owns 693 shares of the company’s stock worth $42,000 after purchasing an additional 542 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of Atkore by 3,333.3% during the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the last quarter.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.99% of the stock is owned by insiders.

Atkore Stock Down 0.9%

ATKR opened at $66.29 on Monday. The company has a market capitalization of $2.23 billion, a P/E ratio of 6.42 and a beta of 2.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The firm’s fifty day moving average price is $64.64 and its two-hundred day moving average price is $71.31. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $153.32.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. During the same period in the previous year, the business earned $4.08 EPS. The firm’s revenue was down 11.5% on a year-over-year basis. On average, analysts anticipate that Atkore Inc. will post 5.79 EPS for the current 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 given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Friday, May 16th. This is an increase from Atkore’s previous quarterly dividend of $0.32. Atkore’s dividend payout ratio (DPR) is 25.38%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ATKR shares. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Roth Capital set a $78.00 price objective on shares of Atkore and gave the stock a “buy” rating in a research note on Wednesday, May 7th. KeyCorp upped their target price on shares of Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Citigroup reissued a “neutral” rating and issued a $80.00 price target (up from $70.00) on shares of Atkore in a report on Monday, June 9th. Finally, Royal Bank of Canada raised their price target on shares of Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atkore presently has an average rating of “Moderate Buy” and an average price target of $79.57.

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.