Point72 Hong Kong Ltd acquired a new stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,133 shares of the company's stock, valued at approximately $6,621,000. Point72 Hong Kong Ltd owned 0.22% of Atkore at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of ATKR. Arizona State Retirement System raised its holdings in shares of Atkore by 0.8% in the second quarter. Arizona State Retirement System now owns 10,294 shares of the company's stock worth $1,389,000 after buying an additional 85 shares during the period. SummerHaven Investment Management LLC grew its position in Atkore by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company's stock valued at $667,000 after acquiring an additional 99 shares during the last quarter. Meixler Investment Management Ltd. increased its stake in Atkore by 6.5% in the second quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company's stock worth $263,000 after purchasing an additional 119 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Atkore by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company's stock worth $555,000 after purchasing an additional 129 shares during the last quarter. Finally, Riverwater Partners LLC boosted its stake in shares of Atkore by 1.1% during the second quarter. Riverwater Partners LLC now owns 14,310 shares of the company's stock valued at $1,931,000 after purchasing an additional 159 shares during the period.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ATKR. Royal Bank of Canada decreased their price objective on shares of Atkore from $99.00 to $93.00 and set a "sector perform" rating for the company in a report on Friday, November 22nd. B. Riley downgraded shares of 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. KeyCorp dropped their price objective on Atkore from $125.00 to $105.00 and set an "overweight" rating on the stock in a research note on Friday, September 13th. Finally, Loop Capital lowered their target price on Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $117.00.
Read Our Latest Stock Analysis on Atkore
Insiders Place Their Bets
In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares of the company's stock, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now owns 27,528 shares in the company, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by corporate insiders.
Atkore Stock Up 1.2 %
Atkore stock traded up $1.14 during mid-day trading on Friday, reaching $94.31. 340,062 shares of the company were exchanged, compared to its average volume of 923,506. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The firm has a market cap of $3.29 billion, a P/E ratio of 7.47 and a beta of 2.13. The business has a fifty day moving average of $88.49 and a 200 day moving average of $110.83. Atkore Inc. has a 12-month low of $76.01 and a 12-month high of $194.98.
Atkore Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, December 6th. Atkore's payout ratio is currently 10.13%.
Atkore Profile
(
Free Report)
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.
Featured Articles
Before you consider Atkore, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atkore wasn't on the list.
While Atkore currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
