Atkore Inc. (NYSE:ATKR) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,479 shares of the company's stock after purchasing an additional 13,445 shares during the period. Wells Fargo & Company MN owned about 0.16% of Atkore worth $4,630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. E. Ohman J or Asset Management AB raised its holdings in shares of Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock valued at $26,569,000 after buying an additional 113,263 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock worth $111,467,000 after acquiring an additional 134,517 shares during the period. Barclays PLC grew its stake in shares of Atkore by 50.2% in the 3rd quarter. Barclays PLC now owns 70,736 shares of the company's stock valued at $5,994,000 after purchasing an additional 23,628 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Atkore by 38.7% in the third quarter. Tidal Investments LLC now owns 23,744 shares of the company's stock valued at $2,012,000 after purchasing an additional 6,628 shares during the period. Finally, Swedbank AB increased its holdings in shares of Atkore by 18.4% in the fourth quarter. Swedbank AB now owns 296,791 shares of the company's stock valued at $24,767,000 after purchasing an additional 46,200 shares during the period.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is currently owned by insiders.

Atkore Trading Up 3.9 %

NYSE ATKR traded up $2.43 during mid-day trading on Thursday, reaching $64.43. 191,371 shares of the stock were exchanged, compared to its average volume of 697,169. The business's fifty day simple moving average is $61.59 and its 200 day simple moving average is $77.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $185.42. The stock has a market capitalization of $2.24 billion, a PE ratio of 6.23 and a beta of 2.02.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to analysts' expectations of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The business's quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.12 EPS. On average, research analysts anticipate that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore's dividend payout ratio (DPR) is presently 12.39%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ATKR shares. KeyCorp lowered their price objective on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup dropped their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and reduced their price objective for the company from $115.00 to $65.00 in a research report on Monday, February 10th. Finally, Royal Bank of Canada boosted their target price on Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

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.