Atkore Inc. (NYSE:ATKR) Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of Atkore Inc. (NYSE:ATKR) by 26.8% in the third quarter, Holdings Channel reports. The firm owned 1,234,350 shares of the company’s stock after buying an additional 261,234 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Atkore were worth $104,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Atkore by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 2,397 shares of the company’s stock worth $203,000 after purchasing an additional 316 shares in the last quarter. AlphaMark Advisors LLC raised its stake in shares of Atkore by 91.8% in the 3rd quarter. AlphaMark Advisors LLC now owns 3,364 shares of the company’s stock valued at $285,000 after acquiring an additional 1,610 shares in the last quarter. nVerses Capital LLC raised its stake in shares of Atkore by 24.0% in the 3rd quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock valued at $263,000 after acquiring an additional 600 shares in the last quarter. Twelve Points Wealth Management LLC raised its stake in shares of Atkore by 20.4% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 17,050 shares of the company’s stock valued at $1,445,000 after acquiring an additional 2,884 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Atkore by 37.1% in the 3rd quarter. Creative Planning now owns 7,658 shares of the company’s stock valued at $649,000 after acquiring an additional 2,073 shares in the last quarter.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on ATKR shares. B. Riley cut their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Loop Capital cut their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, KeyCorp cut their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and a consensus target price of $131.60.

Atkore Stock Up 1.0 %

Shares of ATKR stock opened at $89.55 on Monday. Atkore Inc. has a 12 month low of $80.11 and a 12 month high of $194.98. The firm has a market cap of $3.26 billion, a PE ratio of 5.58 and a beta of 2.14. The stock has a 50 day moving average of $88.89 and a 200-day moving average of $127.74. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49.

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 analysts’ consensus estimates of $3.52 by $0.28. The business had revenue of $822.40 million for the quarter, compared to analysts’ expectations of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. Atkore’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $5.13 earnings per share. On average, equities analysts predict that Atkore Inc. will post 12.69 EPS for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio is presently 7.98%.

Atkore Profile

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.