Atkore Inc. (NYSE:ATKR) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in shares of Atkore Inc. (NYSE:ATKR) by 10.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,368,867 shares of the company’s stock after purchasing an additional 134,517 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Atkore were worth $111,467,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares during the period. Quarry LP grew its position in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. increased its stake in Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares during the period. Covestor Ltd raised its position in Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after buying an additional 390 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after acquiring an additional 469 shares during the period.

Wall Street Analyst Weigh In

ATKR has been the subject of several analyst reports. KeyCorp cut their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. Finally, Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $65.00 in a report on Monday. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.17.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares in the company, valued at $2,405,757.55. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,924 shares of company stock worth $1,599,200. Insiders own 1.99% of the company’s stock.

Atkore Stock Performance

ATKR opened at $69.41 on Thursday. Atkore Inc. has a 1-year low of $62.62 and a 1-year high of $194.98. The stock has a market cap of $2.41 billion, a P/E ratio of 6.72 and a beta of 2.12. The stock’s 50 day simple moving average is $82.51 and its 200 day simple moving average is $88.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. During the same period in the previous year, the business earned $4.12 earnings per share. Atkore’s quarterly revenue was down 17.1% compared to the same quarter last year. As a group, equities analysts anticipate that Atkore Inc. will post 6.55 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.84%. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

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.