Atkore Inc. (NYSE:ATKR) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in Atkore Inc. (NYSE:ATKR) by 97.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 526 shares of the company’s stock after acquiring an additional 259 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Atkore were worth $32,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC increased its holdings in shares of Atkore by 13.0% during the first quarter. Wedge Capital Management L L P NC now owns 173,049 shares of the company’s stock valued at $10,381,000 after purchasing an additional 19,914 shares during the period. Vest Financial LLC acquired a new position in Atkore during the 1st quarter valued at about $1,390,000. Matrix Trust Co increased its stake in Atkore by 80.1% during the 1st quarter. Matrix Trust Co now owns 3,835 shares of the company’s stock valued at $230,000 after buying an additional 1,706 shares during the period. Rhumbline Advisers raised its position in shares of Atkore by 3.2% during the 1st quarter. Rhumbline Advisers now owns 52,856 shares of the company’s stock worth $3,171,000 after buying an additional 1,616 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Atkore by 96,767.6% in the 1st quarter. GAMMA Investing LLC now owns 32,935 shares of the company’s stock worth $19,760,000 after acquiring an additional 32,901 shares during the period.

Atkore Price Performance

ATKR stock opened at $66.09 on Tuesday. Atkore Inc. has a one year low of $49.92 and a one year high of $153.32. The firm has a 50-day moving average of $64.64 and a two-hundred day moving average of $71.16. The firm has a market capitalization of $2.22 billion, a PE ratio of 6.40 and a beta of 2.06. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 EPS 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 during the quarter, compared to the consensus estimate of $690.83 million. During the same quarter in the prior year, the firm earned $4.08 EPS. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. On average, analysts forecast that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th were given a $0.33 dividend. This is an increase from Atkore’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.32 dividend on an annualized basis and a yield of 2.00%. Atkore’s dividend payout ratio is presently 25.38%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction on 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 directly owns 32,828 shares of the company’s stock, valued at approximately $2,270,384.48. This represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.99% of the company’s stock.

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.