Victory Capital Management Inc. Has $39.29 Million Stake in Atkore Inc. (NYSE:ATKR)

Victory Capital Management Inc. raised its holdings in Atkore Inc. (NYSE:ATKR) by 3,948.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 470,830 shares of the company’s stock after buying an additional 459,200 shares during the period. Victory Capital Management Inc. owned 1.36% of Atkore worth $39,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Atkore by 10.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after acquiring an additional 134,517 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after purchasing an additional 113,263 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Atkore by 80.7% in the fourth quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company’s stock valued at $20,580,000 after purchasing an additional 110,107 shares in the last quarter. Algert Global LLC increased its position in shares of Atkore by 331.6% during the 3rd quarter. Algert Global LLC now owns 125,894 shares of the company’s stock worth $10,668,000 after purchasing an additional 96,724 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Atkore during the 3rd quarter worth approximately $7,916,000.

Atkore Stock Up 0.4 %

ATKR stock opened at $64.96 on Friday. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 6.29 and a beta of 2.22. The business’s fifty day moving average price is $75.19 and its two-hundred day moving average price is $83.83.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. Atkore’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the firm earned $4.12 earnings per share. On average, equities analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio is currently 12.39%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ATKR shares. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and cut their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. KeyCorp cut their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Roth Mkm assumed coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.17.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.99% of the company’s stock.

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.