Oppenheimer Asset Management Inc. bought a new position in Atkore Inc. (NYSE:ATKR – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 39,010 shares of the company’s stock, valued at approximately $2,966,000.
Several other large investors have also recently bought and sold shares of the company. Ausbil Investment Management Ltd raised its position in Atkore by 219.6% in the second quarter. Ausbil Investment Management Ltd now owns 35,147 shares of the company’s stock valued at $2,546,000 after purchasing an additional 24,149 shares during the last quarter. Baron Wealth Management LLC grew its holdings in shares of Atkore by 15.7% during the second quarter. Baron Wealth Management LLC now owns 4,288 shares of the company’s stock worth $326,000 after purchasing an additional 581 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Atkore by 8.3% in the first quarter. Empowered Funds LLC now owns 133,516 shares of the company’s stock valued at $7,865,000 after buying an additional 10,267 shares during the period. Bank of America Corp DE increased its stake in shares of Atkore by 10.1% in the first quarter. Bank of America Corp DE now owns 462,278 shares of the company’s stock valued at $27,233,000 after buying an additional 42,593 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Atkore by 23.0% in the 1st quarter. Janus Henderson Group PLC now owns 17,312 shares of the company’s stock valued at $1,019,000 after buying an additional 3,234 shares during the last quarter.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on ATKR shares. Royal Bank Of Canada set a $76.00 target price on shares of Atkore in a research report on Thursday, July 16th. Citigroup upped their price target on shares of Atkore from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Roth Capital lowered 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 report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Atkore presently has a consensus rating of “Hold” and an average target price of $143.33.
Atkore Price Performance
Shares of ATKR opened at $93.81 on Friday. The business has a 50-day moving average of $78.87 and a 200-day moving average of $72.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -19.50 and a beta of 1.68. Atkore Inc. has a 1 year low of $53.75 and a 1 year high of $94.14.
Atkore (NYSE:ATKR – Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.53 by $0.39. The business had revenue of $794.80 million for the quarter, compared to analysts’ expectations of $756.23 million. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.During the same period in the prior year, the business posted $2.17 earnings per share. As a group, equities research analysts anticipate that Atkore Inc. will post 5.15 earnings per share for the current year.
Atkore Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. Atkore’s payout ratio is -27.44%.
Insider Activity at Atkore
In other news, insider Mark F. Lamps sold 300 shares of the company’s stock in a transaction on Monday, August 10th. The shares were 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 of the company’s stock, valued at approximately $3,356,531.25. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.
Atkore 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.
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