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

Quantbot Technologies LP raised its stake in shares of Atkore Inc. (NYSE:ATKR) by 505.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,744 shares of the company’s stock after buying an additional 21,495 shares during the period. Quantbot Technologies LP’s holdings in Atkore were worth $3,474,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ATKR. Principal Securities Inc. acquired a new position in Atkore during the 4th quarter valued at about $66,000. Avantax Advisory Services Inc. acquired a new position in Atkore during the 4th quarter valued at about $284,000. Vanguard Personalized Indexing Management LLC increased its stake in Atkore by 27.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 2,147 shares of the company’s stock valued at $344,000 after buying an additional 466 shares during the period. Brown Advisory Inc. acquired a new position in Atkore during the 4th quarter valued at about $289,000. Finally, Norges Bank acquired a new position in Atkore during the 4th quarter valued at about $68,109,000.

Atkore Stock Performance

Shares of ATKR opened at $85.73 on Tuesday. Atkore Inc. has a 12-month low of $80.11 and a 12-month high of $194.98. The firm’s 50 day moving average is $110.50 and its 200-day moving average is $143.41. The stock has a market capitalization of $3.08 billion, a P/E ratio of 5.34 and a beta of 2.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $830.16 million. During the same period last year, the company posted $5.13 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts anticipate that Atkore Inc. will post 12.69 EPS for the current fiscal year.

Atkore Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on ATKR. KeyCorp lowered their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday. B. Riley lowered 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, Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $132.00.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s 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 completion of the transaction, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.56% 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.