RFG Advisory LLC Boosts Stock Position in Atkore Inc. (NYSE:ATKR)

RFG Advisory LLC raised its stake in shares of Atkore Inc. (NYSE:ATKR) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,164 shares of the company’s stock after acquiring an additional 177 shares during the period. RFG Advisory LLC’s holdings in Atkore were worth $412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Atkore by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 200,175 shares of the company’s stock worth $32,028,000 after purchasing an additional 3,036 shares during the period. Teza Capital Management LLC increased its position in Atkore by 9.2% during the 3rd quarter. Teza Capital Management LLC now owns 1,446 shares of the company’s stock worth $216,000 after purchasing an additional 122 shares during the period. Allspring Global Investments Holdings LLC increased its position in Atkore by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 629,420 shares of the company’s stock worth $100,707,000 after purchasing an additional 12,189 shares during the period. Balyasny Asset Management L.P. increased its position in Atkore by 121.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 243,695 shares of the company’s stock worth $38,991,000 after purchasing an additional 133,622 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Atkore by 3.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 564,384 shares of the company’s stock worth $90,301,000 after purchasing an additional 19,876 shares during the period.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction 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 sale, the insider now owns 28,586 shares in the company, valued at approximately $4,507,154.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction 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 owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wilbert W. James, Jr. sold 599 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now directly owns 15,695 shares in the company, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ATKR. Citigroup dropped their target price on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. StockNews.com cut Atkore from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $187.00 price target on shares of Atkore in a report on Friday, March 22nd.

Atkore Stock Performance

ATKR opened at $133.04 on Tuesday. The stock has a market cap of $4.85 billion, a P/E ratio of 8.29 and a beta of 2.16. 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 stock’s 50 day simple moving average is $156.27 and its 200 day simple moving average is $159.67. Atkore Inc. has a 1-year low of $121.00 and a 1-year high of $194.98.

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

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Monday, May 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

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.