Rhumbline Advisers Purchases 1,616 Shares of Atkore Inc. (NYSE:ATKR)

Rhumbline Advisers raised its position in shares of Atkore Inc. (NYSE:ATKR) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,856 shares of the company’s stock after acquiring an additional 1,616 shares during the period. Rhumbline Advisers’ holdings in Atkore were worth $3,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ATKR. Jones Financial Companies Lllp grew its holdings in shares of Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 186 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Atkore by 358.9% in the first quarter. Versant Capital Management Inc now owns 693 shares of the company’s stock worth $42,000 after purchasing an additional 542 shares during the last quarter. Harbour Investments Inc. grew its holdings 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 worth $86,000 after purchasing an additional 1,000 shares during the last quarter. Covestor Ltd grew its holdings in shares of Atkore by 88.5% in the fourth quarter. Covestor Ltd now owns 1,889 shares of the company’s stock worth $157,000 after purchasing an additional 887 shares during the last quarter. Finally, Aristides Capital LLC bought a new position in shares of Atkore in the fourth quarter worth about $200,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ATKR. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Roth Capital set a $78.00 price target on shares of Atkore and gave the stock a “buy” rating in a report on Wednesday, May 7th. Royal Bank of Canada upped their price target on shares of Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Citigroup restated a “neutral” rating and issued a $80.00 price target (up from $70.00) on shares of Atkore in a report on Monday, June 9th. Finally, KeyCorp upped their price target on shares of Atkore from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.57.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, the insider now directly owns 32,828 shares of the company’s stock, valued at approximately $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.99% of the stock is owned by insiders.

Atkore Stock Down 0.9%

NYSE:ATKR opened at $66.29 on Monday. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $153.32. The company has a 50-day moving average of $64.64 and a 200 day moving average of $71.31. The firm has a market cap of $2.23 billion, a PE ratio of 6.42 and a beta of 2.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.52. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. During the same period in the prior year, the firm earned $4.08 earnings per share. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were paid a $0.33 dividend. The ex-dividend date was Friday, May 16th. This is a positive change from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.99%. Atkore’s dividend payout ratio is 25.38%.

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.