Atkore Inc. (NYSE:ATKR) Shares Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC raised its position in Atkore Inc. (NYSE:ATKR) by 10.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,088 shares of the company’s stock after acquiring an additional 383 shares during the period. Blueshift Asset Management LLC’s holdings in Atkore were worth $346,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ATKR. Allspring Global Investments Holdings LLC raised its holdings in Atkore by 26.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after purchasing an additional 261,234 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Atkore by 1,047.5% in the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company’s stock valued at $30,260,000 after buying an additional 204,723 shares during the period. Boston Trust Walden Corp purchased a new stake in shares of Atkore in the second quarter valued at approximately $23,306,000. American Century Companies Inc. boosted its stake in shares of Atkore by 22.9% in the second 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. Finally, Boston Partners raised its position in Atkore by 12.0% in the first quarter. Boston Partners now owns 1,340,146 shares of the company’s stock worth $254,733,000 after acquiring an additional 143,121 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now directly owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. The trade was a 32.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the transaction, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.

Atkore Trading Down 1.9 %

Shares of ATKR opened at $93.17 on Friday. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The firm has a 50 day simple moving average of $88.34 and a 200-day simple moving average of $111.57. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 7.38 and a beta of 2.13.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be issued a $0.32 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.37%. Atkore’s dividend payout ratio (DPR) is 10.13%.

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.