Allspring Global Investments Holdings LLC Acquires 261,234 Shares of Atkore Inc. (NYSE:ATKR)

Allspring Global Investments Holdings LLC increased its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 26.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,234,350 shares of the company's stock after purchasing an additional 261,234 shares during the quarter. Allspring Global Investments Holdings LLC owned 3.39% of Atkore worth $104,599,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Atkore in the 2nd quarter worth approximately $57,000. Mather Group LLC. raised its position in Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company's stock worth $63,000 after acquiring an additional 421 shares during the period. Headlands Technologies LLC raised its position in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company's stock worth $122,000 after acquiring an additional 805 shares during the period. Blue Trust Inc. boosted its stake in shares of Atkore by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 2,397 shares of the company's stock worth $203,000 after acquiring an additional 316 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its position in shares of Atkore by 32.1% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,549 shares of the company's stock valued at $209,000 after acquiring an additional 376 shares during the period.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. KeyCorp lowered 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. Royal Bank of Canada downgraded Atkore from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Loop Capital decreased their target price on shares of Atkore from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, September 20th. Finally, B. Riley lowered their price target on shares of Atkore from $183.00 to $135.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $131.60.

Atkore Price Performance

Shares of Atkore stock traded down $2.34 on Monday, hitting $87.21. 374,453 shares of the company traded hands, compared to its average volume of 618,089. Atkore Inc. has a 52 week low of $80.11 and a 52 week high of $194.98. The business has a 50-day simple moving average of $88.74 and a 200 day simple moving average of $127.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The stock has a market capitalization of $3.18 billion, a P/E ratio of 5.44 and a beta of 2.14.

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

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore's dividend payout ratio (DPR) is presently 7.98%.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.56% of the stock is currently owned by company insiders.

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.