American Century Companies Inc. Has $104.40 Million Stock Holdings in Atkore Inc. (NYSE:ATKR)

American Century Companies Inc. raised its stake in shares of Atkore Inc. (NYSE:ATKR) by 22.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 773,697 shares of the company’s stock after acquiring an additional 144,283 shares during the quarter. American Century Companies Inc. owned approximately 2.12% of Atkore worth $104,395,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ATKR. ICA Group Wealth Management LLC acquired a new stake in Atkore in the 4th quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Atkore in the first quarter valued at approximately $33,000. Global Retirement Partners LLC raised its position in Atkore by 405.1% in the 1st quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Principal Securities Inc. acquired a new position in Atkore during the 4th quarter worth $66,000. Finally, Mather Group LLC. boosted its position in Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after buying an additional 421 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ATKR shares. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. B. Riley dropped their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, KeyCorp cut their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Atkore currently has a consensus rating of “Hold” and a consensus price target of $132.00.

Atkore Stock Performance

Shares of ATKR opened at $86.39 on Friday. The company has a market cap of $3.10 billion, a PE ratio of 5.39 and a beta of 2.14. The firm has a 50-day moving average of $111.41 and a 200-day moving average of $144.27. Atkore Inc. has a one year low of $80.11 and a one year high of $194.98. 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 (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same quarter in the prior year, the company earned $5.13 earnings per share. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities analysts forecast that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is currently 7.98%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the transaction, the insider now owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.