Atom Investors LP Acquires New Shares in Atkore Inc. (NYSE:ATKR)

Atom Investors LP acquired a new position in Atkore Inc. (NYSE:ATKRFree Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,352 shares of the company’s stock, valued at approximately $3,080,000.

Several other hedge funds have also recently bought and sold shares of ATKR. Signaturefd LLC raised its stake in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after acquiring an additional 401 shares in the last quarter. Quarry LP acquired a new position in Atkore during the 2nd quarter worth $57,000. Mather Group LLC. grew its position in shares of Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after purchasing an additional 421 shares during the last quarter. Covestor Ltd boosted its stake in Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after purchasing an additional 390 shares during the period. Finally, Headlands Technologies LLC increased its position in Atkore by 829.9% in the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after buying an additional 805 shares during the period.

Insider Buying and Selling at Atkore

In related news, VP Daniel S. Kelly sold 13,071 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the transaction, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now directly owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.

Atkore Stock Up 1.2 %

Shares of ATKR opened at $94.31 on Monday. Atkore Inc. has a 12 month low of $76.01 and a 12 month high of $194.98. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 7.47 and a beta of 2.13. The company has a 50-day moving average price of $88.49 and a two-hundred day moving average price of $110.50. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is 10.13%.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of research reports. Royal Bank of Canada dropped their target price on shares of Atkore from $99.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. KeyCorp cut their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, Loop Capital cut their price target on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Atkore has an average rating of “Hold” and an average price target of $117.00.

Get Our Latest Research Report on Atkore

About Atkore

(Free Report)

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.

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Institutional Ownership by Quarter for Atkore (NYSE:ATKR)

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