8,127 Shares in Atkore Inc. (NYSE:ATKR) Purchased by Point72 DIFC Ltd

Point72 DIFC Ltd purchased a new position in Atkore Inc. (NYSE:ATKR - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,127 shares of the company's stock, valued at approximately $689,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Atkore by 26.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company's stock valued at $104,599,000 after purchasing an additional 261,234 shares in the last quarter. American Century Companies Inc. grew its position in shares of Atkore by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company's stock valued at $104,395,000 after buying an additional 144,283 shares during the last quarter. Royce & Associates LP raised its stake in Atkore by 20.2% during the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company's stock worth $33,562,000 after acquiring an additional 66,533 shares in the last quarter. William Blair Investment Management LLC lifted its position in Atkore by 5.4% in the second quarter. William Blair Investment Management LLC now owns 395,388 shares of the company's stock valued at $53,350,000 after acquiring an additional 20,229 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Atkore by 23.5% in the second quarter. Principal Financial Group Inc. now owns 336,835 shares of the company's stock valued at $45,449,000 after acquiring an additional 64,050 shares in the last quarter.

Atkore Stock Performance

Shares of NYSE ATKR traded down $0.86 during mid-day trading on Friday, hitting $89.00. 386,055 shares of the company were exchanged, compared to its average volume of 634,071. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 7.05 and a beta of 2.10. The stock has a 50 day simple moving average of $89.20 and a 200-day simple moving average of $108.96. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.08 by ($0.06). The firm had revenue of $788.30 million for the quarter, compared to analyst estimates of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company's revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.63 earnings per share. On average, sell-side analysts forecast that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.44%. Atkore's dividend payout ratio (DPR) is presently 10.13%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ATKR. KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, September 13th. Royal Bank of Canada reissued a "sector perform" rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday. B. Riley downgraded shares of Atkore from a "buy" rating to a "neutral" rating and reduced their price target for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, Loop Capital lowered their price objective on shares of Atkore from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Four equities 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.com, Atkore has an average rating of "Hold" and a consensus target price of $118.80.

Insider Activity

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the transaction, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock worth $1,614,975 in the last 90 days. 2.56% of the stock is currently owned by corporate 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.