Mutual of America Capital Management LLC Acquires 18,249 Shares of Atkore Inc. (NYSE:ATKR)

Mutual of America Capital Management LLC lifted its stake in shares of Atkore Inc. (NYSE:ATKR) by 95.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,394 shares of the company’s stock after acquiring an additional 18,249 shares during the period. Mutual of America Capital Management LLC owned approximately 0.10% of Atkore worth $5,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ATKR. Edgestream Partners L.P. lifted its holdings in shares of Atkore by 17.1% in the second quarter. Edgestream Partners L.P. now owns 3,991 shares of the company’s stock valued at $539,000 after purchasing an additional 582 shares in the last quarter. Quantbot Technologies LP lifted its stake in Atkore by 505.9% in the 2nd quarter. Quantbot Technologies LP now owns 25,744 shares of the company’s stock valued at $3,474,000 after acquiring an additional 21,495 shares in the last quarter. Rock Point Advisors LLC boosted its position in Atkore by 36.9% during the 2nd quarter. Rock Point Advisors LLC now owns 23,537 shares of the company’s stock worth $3,176,000 after acquiring an additional 6,340 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Atkore by 0.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 162,233 shares of the company’s stock worth $21,890,000 after acquiring an additional 867 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Atkore by 26.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,226 shares of the company’s stock valued at $1,110,000 after purchasing an additional 1,697 shares during the last quarter.

Atkore Stock Performance

Shares of ATKR stock opened at $87.02 on Friday. Atkore Inc. has a 52 week low of $80.11 and a 52 week high of $194.98. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 5.43 and a beta of 2.15. The company has a 50-day simple moving average of $106.42 and a 200 day simple moving average of $141.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. The firm had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $5.13 EPS. On average, sell-side analysts predict that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.47%. Atkore’s dividend payout ratio is 7.98%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the sale, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Analyst Upgrades and Downgrades

ATKR has been the subject of a number of analyst reports. Loop Capital decreased their target price on shares of Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. KeyCorp reduced their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Finally, B. Riley decreased their price target on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.60.

About Atkore

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.