Atom Investors LP Acquires Shares of 36,352 Atkore Inc. (NYSE:ATKR)

Atom Investors LP bought a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,352 shares of the company's stock, valued at approximately $3,080,000. Atom Investors LP owned approximately 0.10% of Atkore at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in Atkore by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company's stock worth $104,599,000 after acquiring an additional 261,234 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Atkore by 22.9% during the second quarter. American Century Companies Inc. now owns 773,697 shares of the company's stock worth $104,395,000 after purchasing an additional 144,283 shares during the last quarter. Royce & Associates LP increased its stake in shares of Atkore by 20.2% in the third quarter. Royce & Associates LP now owns 396,054 shares of the company's stock valued at $33,562,000 after buying an additional 66,533 shares during the period. William Blair Investment Management LLC increased its stake in shares of Atkore by 5.4% in the second quarter. William Blair Investment Management LLC now owns 395,388 shares of the company's stock valued at $53,350,000 after buying an additional 20,229 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Atkore by 23.5% in the 2nd quarter. Principal Financial Group Inc. now owns 336,835 shares of the company's stock valued at $45,449,000 after buying an additional 64,050 shares during the last quarter.

Atkore Trading Down 0.1 %

ATKR traded down $0.10 during trading on Monday, reaching $94.21. 570,694 shares of the stock traded hands, compared to its average volume of 637,991. The stock's 50-day moving average is $88.49 and its 200 day moving average is $110.50. Atkore Inc. has a 12 month low of $76.01 and a 12 month high of $194.98. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $3.29 billion, a PE ratio of 7.47 and a beta of 2.13.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.36%. Atkore's payout ratio is currently 10.13%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now owns 27,626 shares in the company, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel S. Kelly sold 13,071 shares of the firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares of the company's stock, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.56% of the company's stock.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of research reports. KeyCorp decreased their price target on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, September 13th. Royal Bank of Canada decreased their price objective on Atkore from $99.00 to $93.00 and set a "sector perform" rating for the company in a report on Friday, November 22nd. Loop Capital cut their target price on Atkore from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Finally, B. Riley cut Atkore from a "buy" rating to a "neutral" rating and decreased their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Atkore presently has a consensus rating of "Hold" and an average target price of $117.00.

Atkore Profile

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.