Atkore Inc. (NYSE:ATKR) Shares Acquired by Boston Partners

Boston Partners lifted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 12.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,340,146 shares of the company’s stock after buying an additional 143,121 shares during the period. Boston Partners owned approximately 3.68% of Atkore worth $254,733,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new stake in shares of Atkore during the fourth quarter worth about $25,000. GAMMA Investing LLC acquired a new stake in shares of Atkore during the fourth quarter worth about $26,000. LifeSteps Financial Inc. acquired a new stake in shares of Atkore during the first quarter worth about $33,000. Global Retirement Partners LLC boosted its stake in shares of Atkore by 405.1% during the first quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock worth $38,000 after buying an additional 158 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in shares of Atkore during the fourth quarter worth about $58,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ATKR shares. StockNews.com downgraded shares of Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. KeyCorp started coverage on shares of Atkore in a research report on Wednesday, July 10th. They issued an “overweight” rating and a $175.00 price objective for the company. Finally, Citigroup reduced their price objective on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Atkore currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

Atkore Price Performance

Shares of ATKR stock traded down $6.87 during midday trading on Friday, reaching $122.17. 782,646 shares of the company traded hands, compared to its average volume of 533,306. The firm’s 50 day simple moving average is $138.96 and its two-hundred day simple moving average is $155.98. Atkore Inc. has a 1-year low of $120.31 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98. The firm has a market cap of $4.45 billion, a PE ratio of 7.62 and a beta of 2.15.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.86. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The company had revenue of $792.90 million during the quarter, compared to the consensus estimate of $808.22 million. During the same period last year, the firm earned $4.31 EPS. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, equities research analysts expect that Atkore Inc. will post 14.93 EPS for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.05%. Atkore’s payout ratio is 7.98%.

Insider Activity

In other news, Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Wilbert W. James, Jr. sold 599 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the completion of the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the transaction, the insider now directly owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

Atkore 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.