Hill City Capital LP purchased a new stake in shares of Atkore Inc. (NYSE:ATKR – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 724,106 shares of the company’s stock, valued at approximately $55,061,020. Atkore comprises 0.0% of Hill City Capital LP’s portfolio, making the stock its 15th largest position. Hill City Capital LP owned approximately 2.14% of Atkore as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers raised its stake in Atkore by 2.8% during the first quarter. Cetera Investment Advisers now owns 5,212 shares of the company’s stock worth $307,000 after acquiring an additional 143 shares during the period. California State Teachers Retirement System increased its stake 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 purchasing an additional 214 shares during the period. Adams Wealth Management lifted its holdings 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 purchasing an additional 220 shares during the period. Osaic Holdings Inc. grew its position in Atkore by 15.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,794 shares of the company’s stock worth $127,000 after purchasing an additional 240 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after acquiring an additional 246 shares in the last quarter.
Insider Activity
In other Atkore news, insider Mark F. Lamps sold 300 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the sale, the insider owned 35,803 shares in the company, valued at $3,356,531.25. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.
Atkore Stock Performance
Atkore (NYSE:ATKR – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The business had revenue of $794.80 million during the quarter, compared to analysts’ expectations of $756.23 million. During the same period last year, the firm posted $2.17 earnings per share. As a group, analysts anticipate that Atkore Inc. will post 5.15 EPS for the current fiscal year.
Atkore Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be issued 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 payout ratio is presently -27.44%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on ATKR shares. Citigroup increased 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. Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Roth Capital cut Atkore from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $85.00 to $92.00 in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $143.33.
Get Our Latest Stock Report 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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