Dynamic Technology Lab Private Ltd Acquires 38,386 Shares of Atkore Inc. (NYSE:ATKR)

Dynamic Technology Lab Private Ltd increased its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 881.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,741 shares of the company's stock after purchasing an additional 38,386 shares during the period. Atkore accounts for 0.4% of Dynamic Technology Lab Private Ltd's portfolio, making the stock its 26th largest position. Dynamic Technology Lab Private Ltd owned approximately 0.12% of Atkore worth $3,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BOKF NA bought a new position in Atkore in the 1st quarter worth about $423,000. Price T Rowe Associates Inc. MD grew its holdings in Atkore by 1.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company's stock worth $85,535,000 after buying an additional 4,852 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in Atkore by 0.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 167,637 shares of the company's stock valued at $31,911,000 after acquiring an additional 1,141 shares during the period. Bayesian Capital Management LP bought a new stake in Atkore during the 1st quarter valued at $411,000. Finally, Dynasty Wealth Management LLC acquired a new position in Atkore during the 1st quarter worth $261,000.

Atkore Stock Performance

Shares of Atkore stock traded up $3.91 on Monday, hitting $93.60. The stock had a trading volume of 357,946 shares, compared to its average volume of 634,448. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 7.39 and a beta of 2.13. Atkore Inc. has a twelve month low of $76.01 and a twelve 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 business's 50 day moving average is $87.80 and its two-hundred day moving average is $112.73.

Atkore Announces Dividend

The business also recently declared 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 1.37%. The ex-dividend date of this dividend is Friday, December 6th. Atkore's dividend payout ratio is currently 10.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. B. Riley downgraded shares of Atkore from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $135.00 to $84.00 in a report on Friday. Loop Capital reduced their price objective on Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday. Royal Bank of Canada dropped their price objective on Atkore from $99.00 to $93.00 and set a "sector perform" rating on the stock in a research note on Friday. Finally, 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $117.00.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now directly owns 27,626 shares of the company's stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.56% 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.