XTX Topco Ltd Raises Stake in Atkore Inc. (NYSE:ATKR)

XTX Topco Ltd raised its holdings in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 96.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,443 shares of the company's stock after purchasing an additional 7,095 shares during the quarter. XTX Topco Ltd's holdings in Atkore were worth $1,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Bank of Canada FI boosted its holdings in Atkore by 8.7% during the 3rd quarter. National Bank of Canada FI now owns 46,562 shares of the company's stock worth $3,946,000 after acquiring an additional 3,734 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Atkore during the 3rd quarter worth $601,000. Wellington Management Group LLP purchased a new position in Atkore during the 3rd quarter worth $7,916,000. Quadrature Capital Ltd purchased a new position in Atkore during the 3rd quarter worth $357,000. Finally, Quarry LP boosted its holdings in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company's stock worth $54,000 after acquiring an additional 208 shares during the last quarter.

Wall Street Analysts Forecast Growth

ATKR has been the topic of a number of analyst reports. Loop Capital cut their price objective on shares of Atkore from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. KeyCorp cut their price target on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, September 13th. Finally, B. Riley downgraded shares of Atkore from a "buy" rating to a "neutral" rating and cut their price target for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $118.80.

Atkore Stock Performance

Atkore stock traded down $1.76 during midday trading on Tuesday, reaching $89.10. The stock had a trading volume of 567,212 shares, compared to its average volume of 633,455. Atkore Inc. has a 12 month low of $76.01 and a 12 month high of $194.98. The firm's 50-day moving average price is $89.42 and its 200 day moving average price is $107.40. The firm has a market capitalization of $3.11 billion, a PE ratio of 7.05 and a beta of 2.10. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The firm had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. During the same quarter in the prior year, the firm posted $3.63 earnings per share. The company's revenue was down 9.4% on a year-over-year basis. As a group, research analysts predict that Atkore Inc. will post 6.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, December 6th. Atkore's dividend payout ratio is presently 10.13%.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock worth $1,614,975 over the last ninety days. Company insiders own 2.56% of the company's stock.

Atkore Company 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.