Meeder Asset Management Inc. acquired a new position in shares of Atkore Inc. (NYSE:ATKR – Free Report) in the second quarter, Holdings Channel.com reports. The fund acquired 7,874 shares of the company’s stock, valued at approximately $599,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in Atkore during the second quarter valued at about $28,000. Kestra Investment Management LLC boosted its holdings in shares of Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock worth $31,000 after purchasing an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after purchasing an additional 480 shares in the last quarter. Strs Ohio bought a new position in shares of Atkore during the 1st quarter valued at about $36,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock valued at $39,000 after buying an additional 246 shares in the last quarter.
Atkore Price Performance
ATKR stock opened at $93.47 on Wednesday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -19.43 and a beta of 1.68. The firm’s 50-day moving average price is $79.40 and its two-hundred day moving average price is $72.71. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. Atkore Inc. has a 12-month low of $53.75 and a 12-month high of $94.14.
Atkore Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.32 annualized dividend and a yield of 1.4%. Atkore’s dividend payout ratio (DPR) is -27.44%.
Analysts Set New Price Targets
ATKR has been the subject of a number of recent research reports. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Roth Capital downgraded shares of Atkore from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $85.00 to $92.00 in a research note on Tuesday, August 4th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a report on Thursday, July 16th. Citigroup increased their target price on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $143.33.
Check Out Our Latest Stock Analysis on ATKR
Insider Buying and Selling at Atkore
In other news, insider Mark F. Lamps sold 300 shares of Atkore stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the sale, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.
Atkore Company Profile
Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.
Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.
Further Reading
- Five stocks we like better than Atkore
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
Want to see what other hedge funds are holding ATKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atkore Inc. (NYSE:ATKR – Free Report).
Receive News & Ratings for Atkore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atkore and related companies with MarketBeat.com's FREE daily email newsletter.
