Panagora Asset Management Inc. Acquires New Stake in Atkore Inc. (NYSE:ATKR)

Panagora Asset Management Inc. bought a new position in Atkore Inc. (NYSE:ATKR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 22,937 shares of the company's stock, valued at approximately $3,095,000. Panagora Asset Management Inc. owned 0.06% of Atkore as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of ATKR. Boston Partners lifted its holdings in shares of Atkore by 98.9% in the fourth quarter. Boston Partners now owns 1,197,025 shares of the company's stock worth $191,329,000 after buying an additional 595,115 shares in the last quarter. Norges Bank purchased a new stake in Atkore in the 4th quarter worth $68,109,000. Hood River Capital Management LLC bought a new position in shares of Atkore during the 1st quarter valued at about $63,900,000. Swedbank AB purchased a new position in shares of Atkore during the first quarter valued at about $47,591,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Atkore by 28.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company's stock worth $131,303,000 after purchasing an additional 216,997 shares during the last quarter.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the sale, the insider now directly owns 28,086 shares of the company's stock, valued at $2,681,370.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Wilbert W. James, Jr. sold 599 shares of the 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 transaction, the director now owns 15,695 shares of the company's stock, valued at $2,404,944.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the firm'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. 2.56% of the stock is owned by corporate insiders.

Atkore Trading Up 0.4 %

NYSE ATKR traded up $0.40 on Friday, hitting $93.31. 570,714 shares of the stock were exchanged, compared to its average volume of 618,509. 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 firm has a market capitalization of $3.40 billion, a P/E ratio of 5.82 and a beta of 2.15. The stock has a fifty day moving average price of $120.69 and a two-hundred day moving average price of $148.53.

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

Atkore Announces Dividend

The firm 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 $0.32 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 1.37%. Atkore's payout ratio is 7.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp cut their price target on Atkore from $175.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. B. Riley decreased their price target 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. Royal Bank of Canada lowered shares of Atkore from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Atkore from a "buy" rating to a "hold" rating in a report on Wednesday, May 8th. Finally, Citigroup lowered their price target on shares of 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $137.00.

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.