Atkore Inc. (NYSE:ATKR) Stock Holdings Increased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in Atkore Inc. (NYSE:ATKR) by 22.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,318 shares of the company’s stock after acquiring an additional 4,514 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Atkore were worth $2,029,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Lakewood Asset Management LLC raised its position in shares of Atkore by 1.4% during the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after purchasing an additional 126 shares during the period. Willis Investment Counsel raised its holdings in Atkore by 3.3% during the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock worth $446,000 after buying an additional 171 shares during the period. Cornercap Investment Counsel Inc. raised its holdings in Atkore by 3.9% during the 3rd quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock worth $431,000 after buying an additional 189 shares during the period. Pacer Advisors Inc. raised its holdings in Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares during the period. Finally, Quarry LP raised its holdings in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares during the period.

Atkore Trading Down 2.4 %

NYSE ATKR opened at $65.68 on Monday. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 1-year low of $62.62 and a 1-year high of $194.98. The firm’s fifty day simple moving average is $79.37 and its 200-day simple moving average is $86.03. The company has a market capitalization of $2.28 billion, a PE ratio of 6.36 and a beta of 2.12.

Atkore (NYSE:ATKR) last released 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 for the quarter, compared to the consensus estimate of $680.77 million. During the same quarter in the prior year, the company posted $4.12 earnings per share. The firm’s revenue was down 17.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 1.95%. Atkore’s dividend payout ratio (DPR) is 12.39%.

Analysts Set New Price Targets

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

Insider Transactions at Atkore

In related news, Director Jeri L. Isbell sold 3,353 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now directly owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the sale, the vice president now directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. The trade was a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock worth $1,599,200 in the last 90 days. 1.99% of the stock is owned by insiders.

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.