Park Avenue Securities LLC Grows Position in Atkore Inc. (NYSE:ATKR)

Park Avenue Securities LLC increased its position in shares of Atkore Inc. (NYSE:ATKR) by 19.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,593 shares of the company’s stock after buying an additional 1,096 shares during the period. Park Avenue Securities LLC’s holdings in Atkore were worth $1,255,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise boosted its holdings in Atkore by 534.7% in the first quarter. Banque Cantonale Vaudoise now owns 2,869 shares of the company’s stock valued at $546,000 after purchasing an additional 2,417 shares in the last quarter. Kapitalo Investimentos Ltda boosted its holdings in Atkore by 2,658.8% in the fourth quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company’s stock valued at $150,000 after purchasing an additional 904 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Atkore in the fourth quarter valued at approximately $252,000. ICA Group Wealth Management LLC acquired a new position in Atkore in the fourth quarter valued at approximately $25,000. Finally, Virtu Financial LLC acquired a new position in Atkore in the fourth quarter valued at approximately $798,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com downgraded Atkore from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Citigroup lowered their price target 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 reissued an “outperform” rating and issued a $187.00 price objective on shares of Atkore in a report on Friday, March 22nd.

Atkore Price Performance

ATKR stock opened at $133.04 on Tuesday. The company has a market capitalization of $4.85 billion, a P/E ratio of 8.29 and a beta of 2.16. Atkore Inc. has a twelve month low of $121.00 and a twelve month high of $194.98. The business has a 50 day simple moving average of $156.27 and a 200-day simple moving average of $159.67. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.86. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The business had revenue of $792.90 million during the quarter, compared to the consensus estimate of $808.22 million. During the same period in the prior year, the company earned $4.31 earnings per share. The company’s revenue was down 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Atkore Inc. will post 14.93 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Monday, May 20th. Atkore’s dividend payout ratio is presently 7.98%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the completion of the sale, the insider now directly owns 28,586 shares of the company’s stock, valued at $4,507,154.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the completion of the transaction, the director now owns 15,695 shares in the company, valued at $2,404,944.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total value of $78,835.00. Following the completion of the transaction, the insider now owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The disclosure for this sale can be found here. Corporate insiders own 2.56% of the company’s stock.

Atkore 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.