Dakota Wealth Management Makes New $865,000 Investment in Atkore Inc. (NYSE:ATKR)

Dakota Wealth Management purchased a new position in Atkore Inc. (NYSE:ATKR - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,414 shares of the company's stock, valued at approximately $865,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners boosted its holdings in Atkore by 12.0% in the 1st quarter. Boston Partners now owns 1,340,146 shares of the company's stock worth $254,733,000 after buying an additional 143,121 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Atkore by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,067,162 shares of the company's stock worth $170,753,000 after purchasing an additional 3,568 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Atkore by 20.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 756,119 shares of the company's stock valued at $143,935,000 after buying an additional 126,699 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Atkore by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,985 shares of the company's stock valued at $89,278,000 after buying an additional 17,012 shares during the period. Finally, Clearbridge Investments LLC grew its stake in Atkore by 48.4% in the 1st quarter. Clearbridge Investments LLC now owns 514,908 shares of the company's stock worth $98,018,000 after acquiring an additional 168,042 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Atkore Stock Performance

ATKR stock traded down $1.29 during midday trading on Tuesday, reaching $95.69. The stock had a trading volume of 681,110 shares, compared to its average volume of 617,875. 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 Inc. has a 52-week low of $91.31 and a 52-week high of $194.98. The stock has a market cap of $3.49 billion, a PE ratio of 5.97 and a beta of 2.15. The firm has a fifty day simple moving average of $127.25 and a two-hundred day simple moving average of $151.38.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.52 by $0.28. The company had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. Atkore had a net margin of 18.30% and a return on equity of 43.19%. Atkore's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $5.13 EPS. As a group, equities research analysts anticipate that Atkore Inc. will post 14.93 EPS for the current year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.34%. Atkore's dividend payout ratio is presently 7.98%.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the sale, the insider now owns 28,086 shares of the company's stock, valued at $2,681,370.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Atkore news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the sale, the insider now owns 28,086 shares of the company's stock, valued at $2,681,370.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wilbert W. James, Jr. sold 599 shares of the company's stock in a transaction that occurred on Monday, June 3rd. The stock was 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 $2,404,944.85. The disclosure for this sale can be found here. 2.56% of the stock is owned by corporate insiders.

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.