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

Hill City Capital LP acquired a new stake in shares of Atkore Inc. (NYSE:ATKR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 724,106 shares of the company’s stock, valued at approximately $55,061,000. Atkore accounts for about 1.4% of Hill City Capital LP’s investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in ATKR. Jones Financial Companies Lllp increased its position in Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Atkore by 15.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,830 shares of the company’s stock valued at $7,009,000 after acquiring an additional 16,028 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Atkore by 59.7% during the first quarter. Intech Investment Management LLC now owns 29,363 shares of the company’s stock valued at $1,761,000 after acquiring an additional 10,972 shares during the period. Strs Ohio bought a new position in shares of Atkore during the first quarter worth about $36,000. Finally, Norges Bank bought a new position in shares of Atkore during the second quarter worth about $467,000.

Atkore Stock Performance

Shares of ATKR opened at $93.62 on Monday. The firm has a 50-day moving average price of $80.32 and a 200 day moving average price of $73.21. The firm has a market capitalization of $3.16 billion, a PE ratio of -19.46 and a beta of 1.68. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59. Atkore Inc. has a 52-week low of $53.75 and a 52-week high of $94.14.

Atkore (NYSE:ATKR) last released its earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The firm had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $756.23 million. During the same quarter last year, the company earned $2.17 EPS. On average, sell-side analysts anticipate that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore’s dividend payout ratio (DPR) is currently -27.44%.

Wall Street Analyst Weigh In

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

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 300 shares of the business’s stock in a transaction that occurred on 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 owned 35,803 shares of the company’s stock, valued at $3,356,531.25. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.

Atkore 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.