724,106 Shares in Atkore Inc. $ATKR Purchased by Hill City Capital LP

Hill City Capital LP acquired a new stake in Atkore Inc. (NYSE:ATKR) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 724,106 shares of the company’s stock, valued at approximately $55,061,020,000. Atkore comprises about 1.3% of Hill City Capital LP’s holdings, making the stock its 15th largest position.

A number of other institutional investors have also made changes to their positions in ATKR. BlackRock Inc. bought a new stake in Atkore in the 2nd quarter valued at $236,958,000. Coliseum Capital Management LLC bought a new stake in shares of Atkore in the fourth quarter valued at about $51,189,000. Earnest Partners LLC bought a new stake in shares of Atkore in the fourth quarter valued at about $49,571,000. Bank of America Corp DE acquired a new position in shares of Atkore in the second quarter valued at about $33,367,000. Finally, Oslo Pensjonsforsikring AS acquired a new stake in Atkore in the 1st quarter worth about $22,209,000.

Insider Activity at Atkore

In other news, insider Mark F. Lamps sold 300 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the sale, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Atkore Price Performance

ATKR stock opened at $93.67 on Friday. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -19.47 and a beta of 1.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04. The company has a 50 day simple moving average of $81.49 and a 200 day simple moving average of $73.93. Atkore Inc. has a 1 year low of $53.75 and a 1 year high of $94.14.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.39. The company had revenue of $794.80 million during the quarter, compared to the consensus estimate of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same period in the prior year, the business earned $2.17 earnings per share. Research analysts anticipate that Atkore Inc. will post 5.15 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Atkore’s dividend payout ratio is presently -27.44%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Roth Capital lowered shares of Atkore from a “buy” rating to a “neutral” rating and increased their target price for the stock from $85.00 to $92.00 in a research report on Tuesday, August 4th. Weiss Ratings upgraded Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Citigroup lifted their price objective on Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $143.33.

Atkore Company Profile

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.