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% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,368,867 shares of the company’s stock after acquiring an additional 134,517 shares during the quarter. Allspring Global Investments Holdings LLC owned about 3.94% of Atkore worth $111,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lakewood Asset Management LLC lifted its holdings in shares of Atkore by 1.4% in the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after acquiring an additional 126 shares during the last quarter. Willis Investment Counsel raised its position in Atkore by 3.3% in the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after purchasing an additional 171 shares during the period. Cornercap Investment Counsel Inc. lifted its stake in Atkore by 3.9% during the third quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock worth $431,000 after purchasing an additional 189 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares during the period. Finally, Quarry LP grew its stake in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ATKR shares. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. KeyCorp lowered their price objective on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Roth Mkm assumed coverage on Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

Atkore Stock Down 2.5 %

Shares of Atkore stock opened at $69.41 on Thursday. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. Atkore Inc. has a 52-week low of $62.62 and a 52-week high of $194.98. The company has a market capitalization of $2.41 billion, a P/E ratio of 6.72 and a beta of 2.12. The company has a 50 day moving average of $82.51 and a 200 day moving average of $88.97.

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

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.84%. Atkore’s payout ratio is currently 12.39%.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 sale, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,924 shares of company stock valued at $1,599,200. Corporate insiders own 1.99% of the company’s stock.

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.