Hill City Capital LP acquired a new stake in shares of Atkore Inc. (NYSE:ATKR – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 724,106 shares of the company’s stock, valued at approximately $55,061,020,000. Atkore accounts for 1.3% of Hill City Capital LP’s investment portfolio, making the stock its 15th largest position. Hill City Capital LP owned about 2.14% of Atkore at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Jones Financial Companies Lllp lifted its position in shares of Atkore by 61.8% during the 1st 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Atkore by 15.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock valued at $7,009,000 after acquiring an additional 16,028 shares during the period. Intech Investment Management LLC boosted its stake in shares of Atkore by 59.7% in the 1st quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock valued at $1,761,000 after purchasing an additional 10,972 shares in the last quarter. Strs Ohio bought a new stake in shares of Atkore in the 1st quarter worth about $36,000. Finally, Norges Bank bought a new stake in shares of Atkore in the 2nd quarter worth about $467,000.
Insider Activity
In other news, insider Mark F. Lamps sold 300 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the sale, the insider owned 35,803 shares of the company’s stock, valued at $3,356,531.25. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.
Atkore Trading Up 0.0%
Atkore (NYSE:ATKR – Get Free Report) last posted its earnings results 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 company had revenue of $794.80 million during the quarter, compared to analyst estimates 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 in the previous year, the company earned $2.17 EPS. On average, equities 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. Shareholders of record on Tuesday, August 18th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore’s dividend payout ratio is -27.44%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on ATKR shares. Citigroup lifted their price target on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 target price on Atkore in a report on Thursday, July 16th. Weiss Ratings upgraded Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. Roth Capital cut Atkore from a “buy” rating to a “neutral” rating and raised their price target for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Atkore presently has a consensus rating of “Hold” and a consensus target price of $143.33.
Check Out Our Latest Stock Analysis on Atkore
About Atkore
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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