Arizona State Retirement System Sells 448 Shares of Atkore Inc. (NYSE:ATKR)

Arizona State Retirement System reduced its holdings in shares of Atkore Inc. (NYSE:ATKR) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Van Den Berg Management I Inc. grew its holdings in Atkore by 0.4% in the 4th quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company’s stock worth $3,425,000 after buying an additional 158 shares in the last quarter. Xponance Inc. lifted its position in shares of Atkore by 6.9% during the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after acquiring an additional 166 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Atkore by 0.8% during the 4th quarter. MetLife Investment Management LLC now owns 21,357 shares of the company’s stock valued at $1,782,000 after acquiring an additional 171 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Atkore by 3.0% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,039 shares of the company’s stock valued at $362,000 after acquiring an additional 177 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Atkore by 97.0% during the 1st 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 last quarter.

Atkore Price Performance

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

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $690.83 million. During the same period in the previous year, the firm earned $4.08 earnings per share. Atkore’s quarterly revenue was down 11.5% compared to the same quarter last year. Equities analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.81%. This is a boost from Atkore’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 16th. Atkore’s dividend payout ratio is presently 25.38%.

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.16, for a total value of $69,160.00. Following the transaction, the insider owned 32,828 shares in the company, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ATKR has been the subject of several research analyst reports. Roth Capital set a $78.00 price objective on shares of Atkore and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Royal Bank Of Canada upped their target price on shares of Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Citigroup reaffirmed a “neutral” rating and issued a $80.00 target price (up from $70.00) on shares of Atkore in a report on Monday, June 9th. Finally, KeyCorp increased 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atkore presently has an average rating of “Moderate Buy” and an average 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.