Teacher Retirement System of Texas Increases Stock Position in Atkore Inc. (NYSE:ATKR)

Teacher Retirement System of Texas raised its holdings in shares of Atkore Inc. (NYSE:ATKR) by 1,049.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,183 shares of the company’s stock after purchasing an additional 38,512 shares during the quarter. Teacher Retirement System of Texas owned 0.12% of Atkore worth $3,520,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in ATKR. Jones Financial Companies Lllp increased its stake in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 186 shares during the period. Quarry LP boosted its stake in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Atkore by 3,333.3% during the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the period. Finally, KBC Group NV lifted its position in shares of Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after buying an additional 469 shares in the last quarter.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Atkore Stock Up 0.5 %

Atkore stock opened at $62.94 on Tuesday. The stock has a 50-day simple moving average of $70.93 and a 200-day simple moving average of $81.46. Atkore Inc. has a fifty-two week low of $55.91 and a fifty-two week high of $194.98. The company has a market capitalization of $2.19 billion, a P/E ratio of 6.09 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same period last year, the firm posted $4.12 EPS. Atkore’s quarterly revenue was down 17.1% on a year-over-year basis. Equities research analysts expect that Atkore Inc. will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio is presently 12.39%.

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.