Bridgewater Associates LP Acquires 47,383 Shares of Atkore Inc. (NYSE:ATKR)

Bridgewater Associates LP boosted its position in Atkore Inc. (NYSE:ATKR - Free Report) by 1,590.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,362 shares of the company's stock after purchasing an additional 47,383 shares during the quarter. Bridgewater Associates LP owned approximately 0.14% of Atkore worth $4,268,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Atkore by 26.8% in 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. American Century Companies Inc. grew its stake in shares of Atkore by 22.9% in the second 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 during the last quarter. Royce & Associates LP grew its stake in shares of Atkore by 20.2% in the third quarter. Royce & Associates LP now owns 396,054 shares of the company's stock worth $33,562,000 after acquiring an additional 66,533 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Atkore by 5.4% in the second quarter. William Blair Investment Management LLC now owns 395,388 shares of the company's stock worth $53,350,000 after acquiring an additional 20,229 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Atkore by 23.5% in the second quarter. Principal Financial Group Inc. now owns 336,835 shares of the company's stock worth $45,449,000 after acquiring an additional 64,050 shares during the last quarter.

Atkore Stock Performance

Shares of Atkore stock traded up $1.14 during trading on Friday, hitting $94.31. 340,062 shares of the company's stock traded hands, compared to its average volume of 638,578. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. Atkore Inc. has a 1 year low of $76.01 and a 1 year high of $194.98. The stock has a market capitalization of $3.29 billion, a P/E ratio of 7.47 and a beta of 2.13. The business has a 50-day simple moving average of $88.49 and a 200-day simple moving average of $110.83.

Atkore Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio (DPR) is presently 10.13%.

Insider Activity at Atkore

In other Atkore news, 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 transaction, the vice president now directly owns 27,528 shares of the company's stock, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the transaction, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. KeyCorp cut their target price on Atkore from $125.00 to $105.00 and set an "overweight" rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada cut their target price on Atkore from $99.00 to $93.00 and set a "sector perform" rating on the stock in a research note on Friday, November 22nd. Loop Capital cut their target price on Atkore from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Finally, B. Riley cut Atkore from a "buy" rating to a "neutral" rating and cut their target price for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $117.00.

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.