Arizona State Retirement System Lowers Holdings in Atkore Inc. (NYSE:ATKR)

Arizona State Retirement System decreased its position in Atkore Inc. (NYSE:ATKR) by 4.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,961 shares of the company’s stock after selling 448 shares during the period. Arizona State Retirement System’s holdings in Atkore were worth $598,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in shares of Atkore by 97.0% during 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Atkore by 1,514.7% during the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $33,000 after purchasing an additional 515 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Atkore by 358.9% during the 1st 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 last quarter. Harbour Investments Inc. lifted its position in Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, KBC Group NV lifted its position in Atkore by 29.5% in the first quarter. KBC Group NV now owns 1,881 shares of the company’s stock valued at $113,000 after acquiring an additional 429 shares during the last quarter.

Atkore Trading Down 1.7%

ATKR opened at $73.04 on Tuesday. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 14.05 and a beta of 2.05. The company has a quick ratio of 1.98, a current ratio of 3.02 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $69.77 and a 200 day simple moving average of $68.53. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $146.52.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 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 the consensus estimate of $690.83 million. During the same quarter last year, the firm posted $4.08 EPS. The company’s quarterly revenue was down 11.5% on a year-over-year basis. Analysts predict that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors 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 was Friday, May 16th. This represents a $1.32 dividend on an annualized basis and a yield of 1.81%. Atkore’s payout ratio is presently 25.38%.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 32,828 shares in the company, valued at $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATKR. Roth Capital set a $78.00 price target on shares of Atkore and gave the stock a “buy” rating in a research 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. Royal Bank Of Canada increased their price objective 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. Citigroup reissued a “neutral” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Atkore in a research report on Monday, June 9th. Finally, KeyCorp raised their price target on shares of Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Atkore has a consensus rating of “Moderate Buy” and a consensus price target of $79.57.

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.