BNP Paribas Financial Markets Buys 70,955 Shares of Atkore Inc. (NYSE:ATKR)

BNP Paribas Financial Markets increased its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 145.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,863 shares of the company's stock after acquiring an additional 70,955 shares during the quarter. BNP Paribas Financial Markets owned about 0.33% of Atkore worth $10,157,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System grew its stake in shares of Atkore by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company's stock worth $1,389,000 after acquiring an additional 85 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in Atkore by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company's stock worth $667,000 after buying an additional 99 shares in the last quarter. Meixler Investment Management Ltd. boosted its stake in shares of Atkore by 6.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company's stock worth $263,000 after buying an additional 119 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Atkore by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company's stock valued at $555,000 after acquiring an additional 129 shares in the last quarter. Finally, Riverwater Partners LLC increased its position in shares of Atkore by 1.1% in the second quarter. Riverwater Partners LLC now owns 14,310 shares of the company's stock valued at $1,931,000 after acquiring an additional 159 shares during the last quarter.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction dated 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 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 position. 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 firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 owns 27,528 shares in the company, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. 2.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ATKR has been the subject of several recent analyst reports. B. Riley downgraded Atkore from a "buy" rating to a "neutral" rating and cut their price objective for the company from $135.00 to $84.00 in a report on Friday, November 22nd. 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 research report on Friday, November 22nd. Loop Capital dropped 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. Finally, KeyCorp cut 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $117.00.

Atkore Price Performance

ATKR stock traded down $0.13 during midday trading on Monday, reaching $94.18. 502,435 shares of the stock were exchanged, compared to its average volume of 637,991. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The stock has a market capitalization of $3.29 billion, a PE ratio of 7.47 and a beta of 2.13. Atkore Inc. has a 52 week low of $76.01 and a 52 week high of $194.98. The company has a fifty day moving average price of $88.49 and a 200 day moving average price of $110.50.

Atkore Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, December 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.36%. Atkore's payout ratio is 10.13%.

About Atkore

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.