Allspring Global Investments Holdings LLC Buys 134,517 Shares of Atkore Inc. (NYSE:ATKR)

Allspring Global Investments Holdings LLC increased its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,368,867 shares of the company's stock after purchasing an additional 134,517 shares during the period. Allspring Global Investments Holdings LLC owned about 3.94% of Atkore worth $111,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC grew its position in Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company's stock valued at $42,000 after acquiring an additional 401 shares during the period. Quarry LP grew its position in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company's stock valued at $54,000 after acquiring an additional 208 shares during the period. Pacer Advisors Inc. grew its position in Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock valued at $70,000 after acquiring an additional 195 shares during the period. Covestor Ltd grew its position in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company's stock valued at $85,000 after acquiring an additional 390 shares during the period. Finally, KBC Group NV grew its position in Atkore by 47.7% in the fourth quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after acquiring an additional 469 shares during the period.

Atkore Trading Up 3.7 %

NYSE:ATKR traded up $2.59 during mid-day trading on Friday, hitting $72.54. The company had a trading volume of 697,322 shares, compared to its average volume of 767,066. Atkore Inc. has a fifty-two week low of $62.62 and a fifty-two week high of $194.98. The business's fifty day moving average is $81.29 and its two-hundred day moving average is $87.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The firm has a market cap of $2.52 billion, a P/E ratio of 7.02 and a beta of 2.12.

Atkore (NYSE:ATKR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same quarter in the prior year, the firm posted $4.12 earnings per share. The company's quarterly revenue was down 17.1% on a year-over-year basis. As a group, research analysts expect that Atkore Inc. will post 6.55 earnings per share for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore's payout ratio is 12.39%.

Analysts Set New Price Targets

ATKR has been the topic of several research analyst reports. Loop Capital cut Atkore from a "buy" rating to a "hold" rating and decreased their target price for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Roth Mkm assumed coverage on Atkore in a report on Tuesday, December 17th. They set a "buy" rating and a $100.00 target price on the stock. B. Riley lowered Atkore from a "buy" rating to a "neutral" rating and cut their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. KeyCorp cut their price target on Atkore from $105.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.17.

Insider Buying and Selling at Atkore

In other news, Director Jeri L. Isbell sold 3,353 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the sale, the director now owns 25,585 shares of the company's stock, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daniel S. Kelly sold 13,071 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the sale, the vice president now directly owns 27,528 shares in the company, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,924 shares of company stock valued at $1,599,200. 1.99% of the stock is currently owned by company insiders.

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.