Assenagon Asset Management S.A. Takes $1.82 Million Position in Atkore Inc. (NYSE:ATKR)

Assenagon Asset Management S.A. acquired a new position in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,501 shares of the company's stock, valued at approximately $1,822,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC grew its stake in shares of Atkore by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company's stock worth $765,000 after purchasing an additional 69 shares during the period. Opinicus Capital Inc. grew its stake 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 purchasing an additional 118 shares during the period. Benjamin Edwards Inc. grew its stake in shares of Atkore by 15.5% during the 4th quarter. Benjamin Edwards Inc. now owns 917 shares of the company's stock worth $147,000 after purchasing an additional 123 shares during the period. Linden Thomas Advisory Services LLC grew its stake in Atkore by 6.3% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 2,347 shares of the company's stock valued at $376,000 after acquiring an additional 139 shares during the period. Finally, SYSTM Wealth Solutions LLC grew its stake in Atkore by 4.8% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 3,368 shares of the company's stock valued at $641,000 after acquiring an additional 153 shares during the period.

Atkore Price Performance

ATKR traded down $0.53 on Thursday, hitting $97.35. 423,206 shares of the company's stock were exchanged, compared to its average volume of 616,811. Atkore Inc. has a fifty-two week low of $91.31 and a fifty-two week high of $194.98. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $126.34 and a 200-day moving average price of $151.01. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 6.10 and a beta of 2.15.

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

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.31%. Atkore's dividend payout ratio is currently 7.98%.

Insider Activity

In other news, Director Wilbert W. James, Jr. sold 599 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 15,695 shares in the company, valued at approximately $2,404,944.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the business'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 value of $91,784.77. Following the sale, the director now owns 15,695 shares of the company's stock, valued at $2,404,944.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction 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 transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. The disclosure for this sale can be found here. Corporate insiders own 2.56% of the company's stock.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of research analyst reports. Royal Bank of Canada cut shares of Atkore from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Citigroup dropped 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. KeyCorp dropped their price target on shares of Atkore from $175.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. StockNews.com cut shares of Atkore from a "buy" rating to a "hold" rating in a research note on Wednesday, May 8th. Finally, B. Riley lowered their target price on shares of Atkore from $183.00 to $135.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $137.00.

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.