Atkore Inc. (NYSE:ATKR) Shares Acquired by Vista Investment Partners LLC

Vista Investment Partners LLC lifted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,148 shares of the company’s stock after acquiring an additional 280 shares during the period. Vista Investment Partners LLC owned 0.08% of Atkore worth $3,798,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new position in Atkore in the 4th quarter valued at about $25,000. GAMMA Investing LLC bought a new position in Atkore during the 4th quarter worth $26,000. LifeSteps Financial Inc. acquired a new stake in Atkore in the 1st quarter valued at approximately $33,000. Global Retirement Partners LLC increased its stake in Atkore by 405.1% during the 1st quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock valued at $38,000 after buying an additional 158 shares during the period. Finally, Montag A & Associates Inc. bought a new stake in shares of Atkore in the 4th quarter worth $58,000.

Atkore Trading Up 1.6 %

ATKR stock traded up $1.55 during midday trading on Friday, hitting $95.59. The stock had a trading volume of 981,167 shares, compared to its average volume of 616,621. Atkore Inc. has a 1-year low of $91.31 and a 1-year high of $194.98. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average price of $129.03 and a two-hundred day moving average price of $152.11. The firm has a market cap of $3.48 billion, a P/E ratio of 5.96 and a beta of 2.15.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The firm had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same period in the prior year, the firm earned $5.13 EPS. The company’s revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts predict that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ATKR. B. Riley reduced their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Citigroup decreased their price objective on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. KeyCorp cut their price objective on Atkore from $175.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Finally, StockNews.com lowered Atkore from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $137.00.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now directly owns 28,086 shares of the company’s stock, valued at $2,681,370.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now owns 28,086 shares in the company, valued at approximately $2,681,370.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wilbert W. James, Jr. sold 599 shares of Atkore stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the transaction, the director now owns 15,695 shares in the company, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is currently 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.