Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Atkore Inc. $ATKR

Mitsubishi UFJ Trust & Banking Corp lowered its position in Atkore Inc. (NYSE:ATKR) by 19.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 28,896 shares of the company’s stock after selling 6,819 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Atkore were worth $1,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Atkore by 10.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,300 shares of the company’s stock worth $715,000 after buying an additional 1,093 shares during the last quarter. Lakewood Asset Management LLC grew its position in shares of Atkore by 4.1% in the 4th quarter. Lakewood Asset Management LLC now owns 10,590 shares of the company’s stock worth $670,000 after buying an additional 413 shares during the last quarter. Roman Butler Fullerton & Co. grew its position in shares of Atkore by 26.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 5,394 shares of the company’s stock worth $341,000 after buying an additional 1,126 shares during the last quarter. Clear Creek Financial Management LLC grew its position in shares of Atkore by 43.6% in the 4th quarter. Clear Creek Financial Management LLC now owns 11,990 shares of the company’s stock worth $758,000 after buying an additional 3,642 shares during the last quarter. Finally, Willis Investment Counsel grew its position in shares of Atkore by 237.7% in the 4th quarter. Willis Investment Counsel now owns 39,351 shares of the company’s stock worth $2,489,000 after buying an additional 27,698 shares during the last quarter.

Atkore Trading Down 1.1%

Shares of Atkore stock opened at $73.71 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.42 and a quick ratio of 2.40. The firm has a fifty day moving average price of $64.39 and a 200 day moving average price of $65.90. Atkore Inc. has a 1 year low of $53.49 and a 1 year high of $80.06. The stock has a market cap of $2.49 billion, a PE ratio of -53.03 and a beta of 1.67.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.19. Atkore had a negative net margin of 1.63% and a positive return on equity of 11.27%. The firm had revenue of $655.55 million during the quarter, compared to analysts’ expectations of $650.09 million. During the same quarter last year, the company posted $1.63 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. Equities research analysts predict that Atkore Inc. will post 4.71 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Atkore’s dividend payout ratio (DPR) is -94.96%.

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $65.78, for a total transaction of $65,780.00. Following the completion of the transaction, the insider owned 35,982 shares of the company’s stock, valued at $2,366,895.96. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ATKR shares. Wall Street Zen downgraded shares of Atkore from a “buy” rating to a “hold” rating in a research report on Monday, April 20th. Citigroup boosted their target price on shares of Atkore from $64.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Roth Mkm boosted their target price on shares of Atkore from $71.00 to $77.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada set a $71.00 target price on shares of Atkore in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.50.

About Atkore

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.