Algert Global LLC Grows Position in Atkore Inc. (NYSE:ATKR)

Algert Global LLC raised its position in Atkore Inc. (NYSE:ATKR) by 331.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,894 shares of the company’s stock after acquiring an additional 96,724 shares during the quarter. Algert Global LLC’s holdings in Atkore were worth $10,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors acquired a new stake in shares of Atkore in the 1st quarter valued at $14,986,000. BOKF NA purchased a new position in Atkore in the first quarter valued at $423,000. Price T Rowe Associates Inc. MD increased its holdings in Atkore by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after buying an additional 4,852 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in Atkore by 0.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 167,637 shares of the company’s stock valued at $31,911,000 after buying an additional 1,141 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Atkore during the 1st quarter worth about $411,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ATKR shares. Royal Bank of Canada cut their target price on Atkore from $99.00 to $93.00 and set a “sector perform” rating on the stock in a research report on Friday. Loop Capital dropped their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday. KeyCorp reduced their price target 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. Finally, B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $135.00 to $84.00 in a report on Friday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Atkore currently has a consensus rating of “Hold” and an average target price of $117.00.

Atkore Stock Performance

Shares of Atkore stock opened at $89.47 on Friday. The firm’s fifty day simple moving average is $87.80 and its 200-day simple moving average is $113.33. Atkore Inc. has a 12 month low of $76.01 and a 12 month high of $194.98. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 7.08 and a beta of 2.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.43%. Atkore’s dividend payout ratio is presently 10.13%.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the transaction, the insider now owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.56% of the company’s stock.

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.