Atkore Inc. (NYSE:ATKR) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its position in Atkore Inc. (NYSE:ATKR - Free Report) by 53.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,117 shares of the company's stock after acquiring an additional 55,841 shares during the period. Wedge Capital Management L L P NC owned 0.45% of Atkore worth $13,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. HighPoint Advisor Group LLC purchased a new position in Atkore during the fourth quarter worth approximately $252,000. Kapitalo Investimentos Ltda lifted its position in Atkore by 2,658.8% during the fourth quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company's stock worth $150,000 after buying an additional 904 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in Atkore by 534.7% during the first quarter. Banque Cantonale Vaudoise now owns 2,869 shares of the company's stock worth $546,000 after buying an additional 2,417 shares in the last quarter. Park Avenue Securities LLC lifted its position in Atkore by 19.9% during the first quarter. Park Avenue Securities LLC now owns 6,593 shares of the company's stock worth $1,255,000 after buying an additional 1,096 shares in the last quarter. Finally, RFG Advisory LLC lifted its position in Atkore by 8.9% during the first quarter. RFG Advisory LLC now owns 2,164 shares of the company's stock worth $412,000 after buying an additional 177 shares in the last quarter.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares of the company's stock, valued at $2,681,370.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Loop Capital reduced their target price on Atkore from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada downgraded Atkore from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday, September 13th. Finally, 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Atkore has a consensus rating of "Moderate Buy" and a consensus price target of $131.60.

Atkore Trading Down 1.5 %

Shares of ATKR stock traded down $1.27 on Tuesday, hitting $85.59. The stock had a trading volume of 392,999 shares, compared to its average volume of 618,056. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The firm has a market capitalization of $3.12 billion, a P/E ratio of 5.34 and a beta of 2.14. Atkore Inc. has a 1 year low of $80.11 and a 1 year high of $194.98. The company's 50 day moving average price is $89.58 and its 200-day moving average price is $130.58.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.28. The firm had revenue of $822.40 million for the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.13 EPS. Analysts anticipate that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.50%. Atkore's payout ratio is 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.