Atkore Inc. (NYSE:ATKR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Atkore Inc. (NYSE:ATKR) by 85.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,825 shares of the company’s stock after selling 289,010 shares during the quarter. Principal Financial Group Inc.’s holdings in Atkore were worth $4,053,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. purchased a new position in Atkore during the second quarter worth approximately $4,158,000. Capital World Investors acquired a new position in shares of Atkore in the 1st quarter valued at $14,986,000. Boston Trust Walden Corp acquired a new position in Atkore in the second quarter valued at about $23,306,000. Maverick Capital Ltd. raised its position in Atkore by 386.9% in the second quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock valued at $1,310,000 after purchasing an additional 7,715 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Atkore by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after acquiring an additional 4,852 shares in the last quarter.

Analyst Ratings Changes

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

Atkore Stock Up 0.5 %

ATKR opened at $84.56 on Friday. Atkore Inc. has a one year low of $76.01 and a one year high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The stock has a market capitalization of $3.03 billion, a P/E ratio of 5.79 and a beta of 2.13. The business’s 50-day simple moving average is $87.75 and its 200-day simple moving average is $114.14.

Atkore Dividend Announcement

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 1.51%. Atkore’s dividend payout ratio is presently 8.99%.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now directly owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.56% of the company’s stock.

Atkore Company 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.