Vaughan Nelson Investment Management L.P. Invests $17.86 Million in Atkore Inc. (NYSE:ATKR)

Vaughan Nelson Investment Management L.P. bought a new position in Atkore Inc. (NYSE:ATKR - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 132,350 shares of the company's stock, valued at approximately $17,857,000. Vaughan Nelson Investment Management L.P. owned about 0.36% of Atkore as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its holdings in shares of Atkore by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company's stock worth $765,000 after acquiring an additional 69 shares during the last quarter. Roman Butler Fullerton & Co. lifted its holdings in shares of Atkore by 3.2% in the 4th quarter. Roman Butler Fullerton & Co. now owns 2,755 shares of the company's stock worth $422,000 after buying an additional 85 shares during the period. Opinicus Capital Inc. grew its position in shares of Atkore by 3.8% during the 1st quarter. Opinicus Capital Inc. now owns 3,263 shares of the company's stock worth $621,000 after buying an additional 118 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Atkore by 15.5% in the fourth quarter. Benjamin Edwards Inc. now owns 917 shares of the company's stock valued at $147,000 after acquiring an additional 123 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in Atkore by 6.3% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 2,347 shares of the company's stock worth $376,000 after acquiring an additional 139 shares during the period.

Insiders Place Their Bets

In other news, Director Wilbert W. James, Jr. sold 599 shares of the firm's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now directly owns 15,695 shares of the company's stock, valued at $2,404,944.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Atkore news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wilbert W. James, Jr. sold 599 shares of Atkore stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $153.23, for a total transaction of $91,784.77. Following the sale, the director now directly owns 15,695 shares in the company, valued at approximately $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup cut their price target on shares of Atkore from $200.00 to $188.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 8th. Royal Bank of Canada lowered shares of Atkore from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. KeyCorp cut their price target on Atkore from $175.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. B. Riley decreased their price objective on Atkore from $183.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Atkore from a "buy" rating to a "hold" rating in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $137.00.

Atkore Price Performance

Shares of ATKR stock traded up $1.40 on Monday, reaching $96.99. 751,740 shares of the company were exchanged, compared to its average volume of 617,470. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 5.99 and a beta of 2.15. Atkore Inc. has a 1 year low of $91.31 and a 1 year high of $194.98. The business has a 50-day moving average price of $129.03 and a 200 day moving average price of $152.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.09.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating analysts' consensus estimates of $3.52 by $0.28. The business had revenue of $822.40 million during the quarter, compared to analysts' expectations of $830.16 million. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The business's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.13 earnings per share. Equities research analysts forecast that Atkore Inc. will post 14.93 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.32%. Atkore's payout ratio is currently 7.98%.

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.