Empowered Funds LLC Increases Stock Position in Atkore Inc. (NYSE:ATKR)

Empowered Funds LLC increased its position in shares of Atkore Inc. (NYSE:ATKR) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,984 shares of the company’s stock after buying an additional 896 shares during the period. Empowered Funds LLC’s holdings in Atkore were worth $1,439,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hood River Capital Management LLC bought a new position in shares of Atkore during the first quarter worth about $63,900,000. Allspring Global Investments Holdings LLC lifted its holdings in Atkore by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after buying an additional 261,234 shares during the last quarter. Swedbank AB acquired a new position in shares of Atkore in the 1st quarter worth approximately $47,591,000. Marshall Wace LLP grew its position in shares of Atkore by 1,047.5% in the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company’s stock worth $30,260,000 after acquiring an additional 204,723 shares in the last quarter. Finally, Boston Trust Walden Corp bought a new stake in shares of Atkore in the 2nd quarter valued at approximately $23,306,000.

Atkore Stock Up 0.5 %

Shares of ATKR stock opened at $84.56 on Friday. Atkore Inc. has a 1 year low of $76.01 and a 1 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 business’s fifty day moving average is $87.75 and its 200-day moving average is $114.14. The stock has a market cap of $3.03 billion, a PE ratio of 5.94 and a beta of 2.13.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, December 6th. Atkore’s payout ratio is 8.99%.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the transaction, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.56% of the company’s stock.

Analysts Set New Price Targets

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

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.