Atkore Inc. (NYSE:ATKR) Shares Bought by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd grew its stake in shares of Atkore Inc. (NYSE:ATKR) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,440 shares of the company’s stock after purchasing an additional 1,077 shares during the quarter. Atkore accounts for 2.1% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 18th biggest position. Ausbil Investment Management Ltd owned 0.06% of Atkore worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners lifted its stake in shares of Atkore by 98.9% in the fourth quarter. Boston Partners now owns 1,197,025 shares of the company’s stock worth $191,329,000 after acquiring an additional 595,115 shares in the last quarter. Norges Bank acquired a new position in shares of Atkore in the fourth quarter worth about $68,109,000. River Road Asset Management LLC lifted its stake in shares of Atkore by 14.1% in the fourth quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock worth $201,646,000 after acquiring an additional 155,508 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Atkore by 121.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 243,695 shares of the company’s stock worth $38,991,000 after acquiring an additional 133,622 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Atkore by 1,569.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 99,600 shares of the company’s stock worth $14,859,000 after acquiring an additional 93,635 shares in the last quarter.

Atkore Stock Up 2.1 %

Shares of ATKR traded up $2.84 during mid-day trading on Friday, reaching $135.37. The company’s stock had a trading volume of 41,488 shares, compared to its average volume of 511,723. The business has a fifty day moving average of $153.89 and a 200 day moving average of $159.25. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 8.26 and a beta of 2.16. Atkore Inc. has a 1 year low of $121.00 and a 1 year high of $194.98. The company has a quick ratio of 1.98, a current ratio of 3.09 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last released its 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. The company had revenue of $792.90 million during the quarter, compared to analyst estimates of $808.22 million. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The company’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.31 earnings per share. As a group, analysts forecast that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Monday, May 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Analyst Upgrades and Downgrades

ATKR has been the subject of several research analyst reports. StockNews.com lowered Atkore from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Citigroup lowered their target price on Atkore from $200.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 target price on shares of Atkore in a report on Friday, March 22nd.

Insider Transactions at Atkore

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

Atkore Company 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.