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

Teacher Retirement System of Texas decreased its holdings in Atkore Inc. (NYSE:ATKR) by 49.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,232 shares of the company’s stock after selling 20,951 shares during the period. Teacher Retirement System of Texas owned 0.06% of Atkore worth $1,274,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its stake in shares of Atkore by 97.0% in the first 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 boosted its stake in shares of 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 acquiring an additional 186 shares during the period. GAMMA Investing LLC boosted 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 acquiring an additional 515 shares during the period. Versant Capital Management Inc boosted 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 acquiring an additional 542 shares during the period. Finally, Harbour Investments Inc. boosted its stake in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the period.

Atkore Trading Down 1.5%

Shares of ATKR stock opened at $75.00 on Friday. Atkore Inc. has a 1 year low of $49.92 and a 1 year high of $153.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.02 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $69.08 and its two-hundred day simple moving average is $69.03. The company 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, beating 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 business had revenue of $701.73 million for the quarter, compared to the consensus estimate of $690.83 million. During the same period in the prior year, the business posted $4.08 earnings per share. The company’s quarterly revenue was down 11.5% compared to the same quarter last year. Research 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. Shareholders of record on Friday, May 16th were issued a dividend of $0.33 per share. This is an increase from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Friday, May 16th. Atkore’s dividend payout ratio (DPR) is presently 25.38%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction on 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 directly owned 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their position. The transaction 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 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.