Bridgewater Associates LP Raises Stock Holdings in Atkore Inc. (NYSE:ATKR)

Bridgewater Associates LP grew its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 44.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,760 shares of the company's stock after purchasing an additional 22,398 shares during the period. Bridgewater Associates LP owned about 0.21% of Atkore worth $6,072,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock worth $111,467,000 after purchasing an additional 134,517 shares during the period. LSV Asset Management grew its stake in shares of Atkore by 24.2% during the 4th quarter. LSV Asset Management now owns 924,100 shares of the company's stock worth $77,116,000 after purchasing an additional 180,160 shares during the period. Wellington Management Group LLP grew its stake in shares of Atkore by 549.9% during the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock worth $50,658,000 after purchasing an additional 513,631 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Atkore by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company's stock valued at $44,243,000 after acquiring an additional 50,194 shares during the period. Finally, Norges Bank acquired a new stake in Atkore in the 4th quarter valued at $42,339,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on ATKR. KeyCorp dropped their price target on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Loop Capital cut shares of Atkore from a "buy" rating to a "hold" rating and dropped their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Royal Bank of Canada lifted their price target on shares of Atkore from $64.00 to $65.00 and gave the company a "sector perform" rating in a research note on Tuesday. Finally, Citigroup dropped their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the transaction, the insider now owns 33,760 shares in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.99% of the company's stock.

Atkore Price Performance

ATKR stock traded up $0.04 during midday trading on Wednesday, reaching $62.70. The stock had a trading volume of 122,702 shares, compared to its average volume of 690,704. The company's fifty day simple moving average is $61.80 and its 200 day simple moving average is $77.25. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 6.07 and a beta of 2.02. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $185.42.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm's revenue for the quarter was down 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.12 EPS. As a group, sell-side analysts predict that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a dividend yield of 2.04%. Atkore's dividend payout ratio is presently 12.39%.

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.