Atkore Inc. (NYSE:ATKR) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP boosted its position in shares of Atkore Inc. (NYSE:ATKR) by 505.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,744 shares of the company’s stock after purchasing an additional 21,495 shares during the period. Quantbot Technologies LP owned approximately 0.07% of Atkore worth $3,474,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Atkore during the 4th quarter valued at $68,109,000. Hood River Capital Management LLC bought a new position in Atkore during the 1st quarter valued at $63,900,000. Swedbank AB bought a new position in Atkore during the 1st quarter valued at $47,591,000. Allspring Global Investments Holdings LLC boosted its stake in Atkore by 28.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock valued at $131,303,000 after acquiring an additional 216,997 shares during the last quarter. Finally, Boston Trust Walden Corp bought a new position in Atkore during the 2nd quarter valued at $23,306,000.

Analyst Ratings Changes

A number of research analysts have commented on ATKR shares. Royal Bank of Canada downgraded shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. B. Riley reduced their price objective on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, KeyCorp reduced their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $132.00.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $95.47, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.56% of the stock is currently owned by insiders.

Atkore Trading Down 0.7 %

Atkore stock opened at $85.73 on Tuesday. The firm’s 50-day moving average is $110.50 and its 200-day moving average is $143.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. Atkore Inc. has a 1 year low of $80.11 and a 1 year high of $194.98. The company has a market cap of $3.08 billion, a P/E ratio of 5.34 and a beta of 2.14.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The company had revenue of $822.40 million for the quarter, compared to the consensus estimate of $830.16 million. During the same period last year, the firm posted $5.13 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts expect that Atkore Inc. will post 12.69 earnings per share for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.49%. Atkore’s dividend payout ratio is presently 7.98%.

About Atkore

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.