Atkore Inc. $ATKR Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in shares of Atkore Inc. (NYSE:ATKR) by 37.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,707 shares of the company’s stock after buying an additional 8,391 shares during the quarter. Teacher Retirement System of Texas owned about 0.09% of Atkore worth $1,927,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ATKR. Jones Financial Companies Lllp grew its stake in Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after acquiring an additional 246 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Atkore by 15.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock worth $7,009,000 after purchasing an additional 16,028 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Atkore by 59.7% during the 1st quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock worth $1,761,000 after purchasing an additional 10,972 shares during the last quarter. Strs Ohio purchased a new stake in shares of Atkore in the first quarter valued at approximately $36,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Atkore in the second quarter valued at approximately $298,000.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $64.75, for a total transaction of $64,750.00. Following the transaction, the insider directly owned 29,923 shares in the company, valued at $1,937,514.25. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Atkore Stock Down 1.1%

Shares of NYSE:ATKR opened at $69.52 on Friday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -133.69 and a beta of 1.58. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $83.63. The business has a 50-day moving average price of $66.75 and a 200 day moving average price of $65.21. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.54.

Atkore (NYSE:ATKR) last announced its earnings results on Wednesday, November 19th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.61). Atkore had a positive return on equity of 12.98% and a negative net margin of 0.53%.The company had revenue of $752.01 million for the quarter, compared to analysts’ expectations of $733.61 million. During the same period last year, the business earned $2.43 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Sell-side analysts expect that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.32 dividend on an annualized basis and a yield of 1.9%. Atkore’s payout ratio is presently -253.85%.

Analyst Upgrades and Downgrades

ATKR has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $64.00 price objective on shares of Atkore in a research note on Thursday, January 15th. CJS Securities upgraded Atkore to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Atkore in a research report on Monday, December 29th. KeyCorp reissued a “sector weight” rating on shares of Atkore in a report on Friday, November 14th. Finally, Citigroup reduced their target price on shares of Atkore from $66.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.80.

Atkore Company Profile

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.