Teacher Retirement System of Texas Sells 20,951 Shares of Atkore Inc. (NYSE:ATKR)

Teacher Retirement System of Texas reduced its holdings in Atkore Inc. (NYSE:ATKR) by 49.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,232 shares of the company’s stock after selling 20,951 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Atkore worth $1,274,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. First Trust Advisors LP lifted its stake in shares of Atkore by 195.6% in the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock valued at $98,009,000 after purchasing an additional 777,113 shares during the period. Gates Capital Management Inc. raised its stake in Atkore by 29.6% during the fourth quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company’s stock valued at $217,584,000 after buying an additional 595,774 shares during the last quarter. Wellington Management Group LLP raised its stake in Atkore by 549.9% during the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock valued at $50,658,000 after buying an additional 513,631 shares during the last quarter. Norges Bank purchased a new position in Atkore during the fourth quarter valued at $42,339,000. Finally, T. Rowe Price Investment Management Inc. purchased a new position in Atkore during the fourth quarter valued at $21,369,000.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total transaction of $69,160.00. Following the transaction, the insider owned 32,828 shares of the company’s stock, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.99% of the company’s stock.

Atkore Price Performance

Shares of Atkore stock opened at $75.00 on Friday. The company has a quick ratio of 1.98, a current ratio of 3.02 and a debt-to-equity ratio of 0.54. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $153.32. The business has a 50-day moving average price of $69.08 and a 200 day moving average price of $69.03. The firm has a market cap of $2.52 billion, a PE ratio of 14.42 and a beta of 2.05.

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

Atkore Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Roth Capital set a $78.00 price target on Atkore and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Citigroup restated a “neutral” rating and issued a $80.00 price target (up previously from $70.00) on shares of Atkore in a research note on Monday, June 9th. KeyCorp boosted their price target on Atkore from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Royal Bank Of Canada boosted their price target on Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company 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.