Bridgewater Associates LP Buys 47,383 Shares of Atkore Inc. (NYSE:ATKR)

Bridgewater Associates LP lifted its stake in Atkore Inc. (NYSE:ATKR) by 1,590.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,362 shares of the company’s stock after acquiring an additional 47,383 shares during the period. Bridgewater Associates LP owned 0.14% of Atkore worth $4,268,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Signaturefd LLC raised its holdings in Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares in the last quarter. Quarry LP bought a new position in shares of Atkore during the 2nd quarter worth approximately $57,000. Mather Group LLC. lifted its position in Atkore by 895.7% during the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after acquiring an additional 421 shares during the last quarter. Covestor Ltd boosted its stake in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after acquiring an additional 390 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after acquiring an additional 805 shares in the last quarter.

Atkore Stock Performance

Shares of ATKR opened at $94.67 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The stock has a 50-day moving average of $88.49 and a two-hundred day moving average of $111.14. The stock has a market cap of $3.30 billion, a P/E ratio of 7.50 and a beta of 2.13. Atkore Inc. has a one year low of $76.01 and a one year high of $194.98.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be given a $0.32 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.35%. Atkore’s dividend payout ratio is currently 10.13%.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the firm’s 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 directly owns 27,528 shares in the company, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ATKR has been the topic of a number of recent analyst reports. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Royal Bank of Canada lowered their price target on Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, November 22nd. Finally, Loop Capital cut their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $117.00.

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.