Mitsubishi UFJ Trust & Banking Corp Buys 6,281 Shares of Atkore Inc. (NYSE:ATKR)

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,700 shares of the company's stock after acquiring an additional 6,281 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.10% of Atkore worth $2,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in Atkore in the 4th quarter worth about $1,127,000. Quantbot Technologies LP raised its holdings in shares of Atkore by 138.8% during the fourth quarter. Quantbot Technologies LP now owns 86,283 shares of the company's stock valued at $7,200,000 after purchasing an additional 50,152 shares during the last quarter. Semanteon Capital Management LP bought a new position in Atkore during the fourth quarter valued at approximately $463,000. Teacher Retirement System of Texas boosted its holdings in Atkore by 1,049.1% in the fourth quarter. Teacher Retirement System of Texas now owns 42,183 shares of the company's stock worth $3,520,000 after purchasing an additional 38,512 shares during the last quarter. Finally, Xponance Inc. grew its position in Atkore by 6.9% in the 4th quarter. Xponance Inc. now owns 2,569 shares of the company's stock worth $214,000 after purchasing an additional 166 shares during the period.

Atkore Price Performance

NYSE:ATKR traded down $1.09 during trading hours on Friday, reaching $53.90. The stock had a trading volume of 717,875 shares, compared to its average volume of 694,277. The stock has a market capitalization of $1.87 billion, a PE ratio of 5.22 and a beta of 2.02. Atkore Inc. has a 52 week low of $50.44 and a 52 week high of $185.47. The company has a 50 day moving average price of $66.40 and a two-hundred day moving average price of $79.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03.

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Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company had revenue of $661.60 million for the quarter, compared to analysts' expectations of $680.77 million. During the same quarter in the previous year, the business posted $4.12 earnings per share. Atkore's quarterly revenue was down 17.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.37%. Atkore's payout ratio is presently 12.39%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm'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 completion of the sale, the insider now owns 33,760 shares of the company's stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ATKR shares. KeyCorp dropped their price target on Atkore from $105.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Roth Capital upgraded shares of Atkore to a "strong-buy" rating in a research report on Monday, December 16th. Roth Mkm began coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a "buy" rating and a $100.00 price objective for the company. Finally, 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 report on Monday, February 10th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $103.17.

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.