Voya Investment Management LLC Grows Stock Holdings in Atkore Inc. (NYSE:ATKR)

Voya Investment Management LLC increased its holdings in shares of Atkore Inc. (NYSE:ATKR) by 1,593.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,665 shares of the company’s stock after purchasing an additional 189,757 shares during the period. Voya Investment Management LLC’s holdings in Atkore were worth $16,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of Atkore by 195.6% during the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock worth $98,009,000 after purchasing an additional 777,113 shares during the period. Wellington Management Group LLP grew its position in Atkore by 549.9% during the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock valued at $50,658,000 after buying an additional 513,631 shares during the period. Norges Bank purchased a new position in Atkore in the fourth quarter valued at $42,339,000. Victory Capital Management Inc. raised its position in shares of Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock worth $39,291,000 after acquiring an additional 459,200 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Atkore during the 4th quarter worth about $21,369,000.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on 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 owns 33,760 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Corporate insiders own 1.99% of the company’s stock.

Atkore Stock Performance

ATKR opened at $64.08 on Monday. The firm has a market capitalization of $2.23 billion, a PE ratio of 6.20 and a beta of 2.02. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore Inc. has a twelve month low of $49.92 and a twelve month high of $185.42. The firm’s 50-day moving average price is $61.31 and its 200 day moving average price is $76.73.

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

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.00%. Atkore’s dividend payout ratio is presently 12.39%.

Analyst Ratings Changes

Several brokerages recently weighed in on ATKR. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and cut their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. KeyCorp cut their price objective on Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada increased their target price on Atkore from $64.00 to $65.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 22nd. Finally, Citigroup cut their price target on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

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.