Hill City Capital LP purchased a new stake in Atkore Inc. (NYSE:ATKR – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 724,106 shares of the company’s stock, valued at approximately $55,061,000. Atkore comprises 1.4% of Hill City Capital LP’s investment portfolio, making the stock its 14th largest position. Hill City Capital LP owned about 2.14% of Atkore at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers raised its position in shares of Atkore by 2.8% in the 1st quarter. Cetera Investment Advisers now owns 5,212 shares of the company’s stock valued at $307,000 after purchasing an additional 143 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Atkore by 0.7% during the second quarter. California State Teachers Retirement System now owns 33,067 shares of the company’s stock worth $2,333,000 after buying an additional 214 shares in the last quarter. Adams Wealth Management grew its position in shares of Atkore by 0.5% during the fourth quarter. Adams Wealth Management now owns 40,726 shares of the company’s stock worth $2,576,000 after buying an additional 220 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of Atkore by 15.4% in the second quarter. Osaic Holdings Inc. now owns 1,794 shares of the company’s stock worth $127,000 after buying an additional 240 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the last quarter.
Wall Street Analyst Weigh In
ATKR has been the topic of several recent analyst reports. Weiss Ratings raised shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a report on Thursday, July 16th. Roth Capital downgraded shares of Atkore from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $85.00 to $92.00 in a research report on Tuesday, August 4th. Citigroup upped their target price on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $143.33.
Insider Activity
In other news, insider Mark F. Lamps sold 300 shares of Atkore stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the transaction, the insider directly owned 35,803 shares of the company’s stock, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.
Atkore Price Performance
Shares of NYSE ATKR opened at $93.62 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -19.46 and a beta of 1.68. Atkore Inc. has a twelve month low of $53.75 and a twelve month high of $94.14. The business has a 50 day simple moving average of $80.32 and a 200-day simple moving average of $73.21.
Atkore (NYSE:ATKR – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.39. The firm had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $756.23 million. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.During the same period last year, the business posted $2.17 earnings per share. As a group, equities research analysts expect that Atkore Inc. will post 5.15 earnings per share for the current year.
Atkore Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore’s dividend payout ratio (DPR) is presently -27.44%.
Atkore Company Profile
Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.
Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.
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