Isthmus Partners LLC Buys 1,942 Shares of Atkore Inc. (NYSE:ATKR)

Isthmus Partners LLC raised its stake in shares of Atkore Inc. (NYSE:ATKR) by 9.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,383 shares of the company’s stock after acquiring an additional 1,942 shares during the quarter. Isthmus Partners LLC owned approximately 0.07% of Atkore worth $1,403,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATKR. First Trust Advisors LP increased its position in shares of Atkore by 195.6% during the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock worth $98,009,000 after purchasing an additional 777,113 shares in the last quarter. Gates Capital Management Inc. grew its stake in Atkore by 29.6% during the fourth quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company’s stock worth $217,584,000 after buying an additional 595,774 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Atkore by 549.9% during the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock worth $50,658,000 after buying an additional 513,631 shares in the last quarter. Norges Bank bought a new position in shares of Atkore in the fourth quarter valued at approximately $42,339,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of Atkore in the 4th quarter worth approximately $21,369,000.

Atkore Stock Performance

Shares of ATKR stock opened at $75.00 on Friday. The stock has a market cap of $2.52 billion, a PE ratio of 14.42 and a beta of 2.05. The stock has a 50-day moving average of $69.08 and a 200-day moving average of $69.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.02 and a quick ratio of 1.98. Atkore Inc. has a one year low of $49.92 and a one year high of $153.32.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.52. The firm had revenue of $701.73 million during the quarter, compared to analysts’ expectations of $690.83 million. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.08 earnings per share. As a group, sell-side analysts expect that Atkore Inc. will post 5.79 earnings per share for the current 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.76%. The ex-dividend date was Friday, May 16th. This is an increase from Atkore’s previous quarterly dividend of $0.32. Atkore’s dividend payout ratio (DPR) is presently 25.38%.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the sale, the insider directly owned 32,828 shares in the company, valued at $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup reaffirmed a “neutral” rating and set a $80.00 price target (up from $70.00) on shares of Atkore in a report on Monday, June 9th. Royal Bank Of Canada raised their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Roth Capital set a $78.00 price target on Atkore and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, KeyCorp raised their price target on Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Atkore has an average rating of “Moderate Buy” and a consensus target price of $79.57.

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.