Atkore Inc. (NYSE:ATKR) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 1,049.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,183 shares of the company’s stock after acquiring an additional 38,512 shares during the quarter. Teacher Retirement System of Texas’ holdings in Atkore were worth $3,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after buying an additional 186 shares during the period. Quarry LP raised its stake in shares of Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares during the period. Pacer Advisors Inc. lifted its position in shares of Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after purchasing an additional 195 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the period. Finally, KBC Group NV grew its holdings in Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after purchasing an additional 469 shares in the last quarter.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ATKR shares. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. KeyCorp cut their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Roth Mkm assumed coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. Finally, Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Atkore presently has an average rating of “Moderate Buy” and an average price target of $103.17.

Atkore Stock Performance

Shares of ATKR stock opened at $62.94 on Tuesday. The company has a market cap of $2.19 billion, a P/E ratio of 6.09 and a beta of 2.22. The business has a 50 day moving average of $70.93 and a two-hundred day moving average of $81.46. Atkore Inc. has a 52 week low of $55.91 and a 52 week high of $194.98. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same period in the prior year, the business earned $4.12 EPS. The firm’s revenue was down 17.1% on a year-over-year basis. As a group, analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.03%. Atkore’s dividend payout ratio (DPR) is presently 12.39%.

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.