Rose Capital Advisors LLC acquired a new stake in shares of Atkore Inc. (NYSE:ATKR – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 14,811 shares of the company’s stock, valued at approximately $1,126,000.
Several other hedge funds and other institutional investors have also made changes to their positions in ATKR. Cetera Investment Advisers boosted its stake in shares of Atkore by 2.8% during the 1st quarter. Cetera Investment Advisers now owns 5,212 shares of the company’s stock worth $307,000 after purchasing an additional 143 shares during the period. California State Teachers Retirement System raised its position in Atkore by 0.7% in the 2nd 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 raised its position in Atkore by 0.5% in the 4th 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. raised 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 during the period. Finally, Jones Financial Companies Lllp lifted its stake in 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 purchasing an additional 246 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on ATKR. Roth Capital lowered Atkore from a “buy” rating to a “neutral” rating and boosted their target price for the company from $85.00 to $92.00 in a research report on Tuesday, August 4th. Weiss Ratings upgraded 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 target on Atkore in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $143.33.
Atkore Price Performance
Shares of ATKR stock opened at $93.77 on Friday. Atkore Inc. has a twelve month low of $53.75 and a twelve month high of $94.14. 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 stock has a fifty day simple moving average of $83.21 and a two-hundred day simple moving average of $75.01. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -19.49 and a beta of 1.68.
Atkore (NYSE:ATKR – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.53 by $0.39. The firm had revenue of $794.80 million for 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 quarter last year, the firm posted $2.17 earnings per share. On average, analysts predict that Atkore Inc. will post 5.15 EPS for the current fiscal year.
Atkore Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, August 18th. Atkore’s dividend payout ratio is presently -27.44%.
Insider Buying and Selling
In other Atkore news, insider Mark Lamps sold 300 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the transaction, the insider owned 35,803 shares of the company’s stock, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.
Atkore 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.
Featured Stories
- Five stocks we like better than Atkore
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
Want to see what other hedge funds are holding ATKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atkore Inc. (NYSE:ATKR – Free Report).
Receive News & Ratings for Atkore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atkore and related companies with MarketBeat.com's FREE daily email newsletter.
