State of New Jersey Common Pension Fund D Decreases Position in Atkore Inc. (NYSE:ATKR)

State of New Jersey Common Pension Fund D lessened its holdings in Atkore Inc. (NYSE:ATKR) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,968 shares of the company’s stock after selling 1,992 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Atkore worth $3,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATKR. Exchange Traded Concepts LLC boosted its position in Atkore by 462.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,645 shares of the company’s stock valued at $395,000 after buying an additional 2,175 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Atkore by 32.9% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,208 shares of the company’s stock worth $329,000 after purchasing an additional 547 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Atkore by 4.4% during the third quarter. Commonwealth Equity Services LLC now owns 4,907 shares of the company’s stock worth $732,000 after purchasing an additional 205 shares in the last quarter. Raymond James & Associates grew its stake in shares of Atkore by 8.1% during the third quarter. Raymond James & Associates now owns 172,932 shares of the company’s stock worth $25,800,000 after purchasing an additional 12,921 shares in the last quarter. Finally, Redwood Investments LLC grew its stake in shares of Atkore by 46.9% during the third quarter. Redwood Investments LLC now owns 108,422 shares of the company’s stock worth $16,175,000 after purchasing an additional 34,594 shares in the last quarter.

Insider Buying and Selling at Atkore

In other news, VP Daniel S. Kelly sold 8,685 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the sale, the vice president now directly owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Daniel S. Kelly sold 8,685 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total value of $1,503,112.95. Following the completion of the sale, the vice president now directly owns 34,907 shares of the company’s stock, valued at $6,041,354.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John W. Pregenzer sold 6,548 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the completion of the sale, the insider now directly owns 30,430 shares of the company’s stock, valued at $4,822,850.70. The disclosure for this sale can be found here. Insiders sold 148,464 shares of company stock worth $25,124,751 over the last 90 days. Corporate insiders own 2.56% of the company’s stock.

Atkore Stock Performance

NYSE ATKR opened at $182.99 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.96 and a quick ratio of 1.99. Atkore Inc. has a 1 year low of $116.14 and a 1 year high of $194.98. The company has a market capitalization of $6.73 billion, a PE ratio of 10.97 and a beta of 2.19. The company has a fifty day moving average of $173.49 and a two-hundred day moving average of $153.46.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $1.04. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The company had revenue of $798.50 million during the quarter, compared to the consensus estimate of $777.05 million. During the same quarter in the prior year, the firm posted $4.51 earnings per share. Atkore’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, analysts expect that Atkore Inc. will post 15.06 earnings per share for the current year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.28 annualized dividend and a yield of 0.70%. Atkore’s dividend payout ratio is presently 7.67%.

Analysts Set New Price Targets

A number of brokerages recently commented on ATKR. Citigroup boosted their target price on shares of Atkore from $176.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of Atkore from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $187.00 target price on shares of Atkore in a research note on Friday, March 22nd.

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.