Barclays PLC Increases Stock Position in Atkore Inc. (NYSE:ATKR)

Barclays PLC increased its holdings in Atkore Inc. (NYSE:ATKR) by 50.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,736 shares of the company’s stock after buying an additional 23,628 shares during the period. Barclays PLC’s holdings in Atkore were worth $5,994,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atkore by 26.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after acquiring an additional 261,234 shares during the period. American Century Companies Inc. grew its holdings in Atkore by 22.9% during the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after buying an additional 144,283 shares in the last quarter. Royce & Associates LP increased its position in shares of Atkore by 20.2% during the third quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock valued at $33,562,000 after buying an additional 66,533 shares during the period. William Blair Investment Management LLC increased its position in shares of Atkore by 5.4% during the second quarter. William Blair Investment Management LLC now owns 395,388 shares of the company’s stock valued at $53,350,000 after buying an additional 20,229 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Atkore by 23.5% in the second quarter. Principal Financial Group Inc. now owns 336,835 shares of the company’s stock worth $45,449,000 after buying an additional 64,050 shares in the last quarter.

Atkore Stock Performance

NYSE ATKR opened at $82.72 on Friday. Atkore Inc. has a 52-week low of $76.01 and a 52-week high of $194.98. The company has a fifty day moving average of $89.48 and a 200-day moving average of $104.76. The company has a market capitalization of $2.89 billion, a P/E ratio of 6.55 and a beta of 2.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). The firm had revenue of $788.30 million for the quarter, compared to the consensus estimate of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $3.63 EPS. As a group, equities research analysts predict that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s dividend payout ratio is currently 10.13%.

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, 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 sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the transaction, the vice president now owns 27,528 shares in the company, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock worth $1,614,975 over the last ninety days. Insiders own 2.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ATKR shares. Loop Capital reduced their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Roth Mkm started coverage on Atkore in a research report on Tuesday. They set a “buy” rating and a $100.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Atkore currently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

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.