Mutual of America Capital Management LLC Acquires 18,249 Shares of Atkore Inc. (NYSE:ATKR)

Mutual of America Capital Management LLC boosted its stake in shares of Atkore Inc. (NYSE:ATKR) by 95.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,394 shares of the company’s stock after buying an additional 18,249 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Atkore were worth $5,046,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new position in shares of Atkore in the fourth quarter worth approximately $25,000. LifeSteps Financial Inc. bought a new position in Atkore during the 1st quarter worth approximately $33,000. Mather Group LLC. lifted its position in shares of Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after purchasing an additional 421 shares during the period. Quest Partners LLC bought a new stake in shares of Atkore in the 4th quarter valued at $86,000. Finally, Headlands Technologies LLC boosted its stake in shares of Atkore by 829.9% in the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after purchasing an additional 805 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently commented on ATKR. KeyCorp cut their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Loop Capital cut their price target on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday. B. Riley lowered their price objective on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.60.

Atkore Stock Performance

Shares of ATKR opened at $87.02 on Friday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 5.43 and a beta of 2.15. Atkore Inc. has a 52 week low of $80.11 and a 52 week high of $194.98. The stock has a 50 day moving average price of $106.42 and a two-hundred day moving average price of $141.31. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The business had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same quarter in the prior year, the company posted $5.13 earnings per share. Atkore’s revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast that Atkore Inc. will post 12.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore’s payout ratio is currently 7.98%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the sale, the insider now owns 28,086 shares in the company, valued at approximately $2,681,370.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.56% of the stock is owned by corporate 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.