Atkore Inc. (NYSE:ATKR) Shares Purchased by Barclays PLC

Barclays PLC grew its position in Atkore Inc. (NYSE:ATKR - Free Report) by 50.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,736 shares of the company's stock after purchasing an additional 23,628 shares during the quarter. Barclays PLC owned approximately 0.20% of Atkore worth $5,994,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Atkore by 26.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company's stock worth $104,599,000 after purchasing an additional 261,234 shares in the last quarter. Marshall Wace LLP raised its stake in Atkore by 1,047.5% during the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company's stock worth $30,260,000 after acquiring an additional 204,723 shares in the last quarter. American Century Companies Inc. raised its stake in Atkore by 22.9% during the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company's stock worth $104,395,000 after acquiring an additional 144,283 shares in the last quarter. M&G PLC purchased a new stake in Atkore in the third quarter valued at $9,123,000. Finally, Algert Global LLC boosted its stake in Atkore by 331.6% in the third quarter. Algert Global LLC now owns 125,894 shares of the company's stock valued at $10,668,000 after acquiring an additional 96,724 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on ATKR. Roth Capital raised Atkore to a "strong-buy" rating in a research report on Monday. Loop Capital cut their target price 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 reiterated 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. Roth Mkm initiated coverage on shares of Atkore in a research note on Tuesday. They issued a "buy" rating and a $100.00 price objective on the stock. Finally, KeyCorp decreased their target price on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Atkore presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.67.

Atkore Stock Performance

NYSE ATKR traded up $0.68 during trading hours on Friday, hitting $83.40. 1,083,863 shares of the stock were exchanged, compared to its average volume of 633,084. 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 company has a market cap of $2.90 billion, a price-to-earnings ratio of 6.60 and a beta of 2.10. Atkore Inc. has a 12-month low of $76.01 and a 12-month high of $194.98. The stock has a 50-day moving average of $89.41 and a 200 day moving average of $104.33.

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

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, December 6th. Atkore's dividend payout ratio is presently 10.13%.

Insider Transactions at Atkore

In other news, Director Jeri L. Isbell sold 3,353 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the sale, the director now directly owns 25,585 shares of the company's stock, valued at $2,405,757.55. The trade was a 11.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel S. Kelly sold 13,071 shares of the stock in a transaction on 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 completion of the transaction, the vice president now directly owns 27,528 shares in the company, valued at $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 16,924 shares of company stock worth $1,614,975 over the last quarter. 2.56% of the stock is currently owned by insiders.

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.