Atkore Inc. (NYSE:ATKR) Shares Bought by Swedbank AB

Swedbank AB grew its holdings in shares of Atkore Inc. (NYSE:ATKR) by 18.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 296,791 shares of the company’s stock after purchasing an additional 46,200 shares during the period. Swedbank AB’s holdings in Atkore were worth $24,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Atkore by 26.8% in the 3rd 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 during the period. M&G PLC acquired a new position in shares of Atkore in the third quarter worth about $9,123,000. Algert Global LLC increased its position in shares of Atkore by 331.6% in the third quarter. Algert Global LLC now owns 125,894 shares of the company’s stock worth $10,668,000 after acquiring an additional 96,724 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Atkore during the third quarter valued at approximately $7,916,000. Finally, Millennium Management LLC lifted its position in shares of Atkore by 84.4% in the 2nd quarter. Millennium Management LLC now owns 181,120 shares of the company’s stock valued at $24,439,000 after acquiring an additional 82,903 shares in the last quarter.

Atkore Stock Performance

Shares of ATKR stock opened at $83.70 on Friday. Atkore Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $194.98. The stock’s 50-day moving average is $86.24 and its two-hundred day moving average is $93.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The firm has a market cap of $2.91 billion, a P/E ratio of 6.63 and a beta of 2.13.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). The firm had revenue of $788.30 million during 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 quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.63 EPS. Analysts predict that Atkore Inc. will post 6.62 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. Atkore’s dividend payout ratio is currently 10.13%.

Insider Activity at Atkore

In related news, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now directly owns 27,528 shares in the company, valued at approximately $2,635,530.72. The trade was a 32.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,924 shares of company stock valued at $1,614,975. Insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ATKR. 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. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Mkm initiated coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. Roth Capital raised Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Finally, B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Atkore has an average rating of “Moderate Buy” and a consensus target price of $115.67.

About Atkore

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.