Atkore Inc. (NYSE:ATKR) Stock Position Raised by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 1,514.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 549 shares of the company’s stock after purchasing an additional 515 shares during the period. GAMMA Investing LLC’s holdings in Atkore were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ATKR. Harbor Capital Advisors Inc. increased its stake in Atkore by 97.0% during the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company’s stock valued at $32,000 after acquiring an additional 259 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Atkore by 13.0% in the 1st 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 stake in Atkore during the 1st quarter worth $1,390,000. Matrix Trust Co raised its stake in Atkore by 80.1% during the 1st quarter. Matrix Trust Co now owns 3,835 shares of the company’s stock worth $230,000 after buying an additional 1,706 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Atkore by 3.2% in the 1st quarter. Rhumbline Advisers now owns 52,856 shares of the company’s stock valued at $3,171,000 after acquiring an additional 1,616 shares in the last quarter.

Insider Transactions 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 value of $69,160.00. Following the completion of the transaction, the insider directly owned 32,828 shares of the company’s stock, valued at $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.99% of the stock is currently owned by insiders.

Atkore Stock Down 1.5%

Atkore stock opened at $75.00 on Friday. The firm has a 50 day simple moving average of $69.08 and a 200 day simple moving average of $69.13. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 14.42 and a beta of 2.05. The company has a current ratio of 3.02, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $153.32.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The company had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. During the same period in the previous year, the business earned $4.08 earnings per share. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, analysts predict that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.76%. This is an increase from Atkore’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 16th. Atkore’s dividend payout ratio is 25.38%.

Analyst Ratings Changes

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

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.