Atkore Inc. (NYSE:ATKR) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. raised its position in Atkore Inc. (NYSE:ATKR) by 923.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,826 shares of the company’s stock after acquiring an additional 36,835 shares during the period. Edgestream Partners L.P.’s holdings in Atkore were worth $3,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Verition Fund Management LLC boosted its holdings in Atkore by 235.6% in the 3rd quarter. Verition Fund Management LLC now owns 11,036 shares of the company’s stock valued at $935,000 after purchasing an additional 7,748 shares during the last quarter. FORA Capital LLC acquired a new position in Atkore in the 3rd quarter valued at about $340,000. Blueshift Asset Management LLC boosted its holdings in Atkore by 10.3% in the 3rd quarter. Blueshift Asset Management LLC now owns 4,088 shares of the company’s stock valued at $346,000 after purchasing an additional 383 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Atkore by 6.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,523 shares of the company’s stock valued at $383,000 after acquiring an additional 256 shares during the period. Finally, Bridgewater Associates LP raised its stake in shares of Atkore by 1,590.6% in the 3rd quarter. Bridgewater Associates LP now owns 50,362 shares of the company’s stock valued at $4,268,000 after acquiring an additional 47,383 shares during the period.

Atkore Price Performance

Shares of ATKR opened at $94.31 on Monday. Atkore Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $194.98. The firm’s 50 day moving average price is $88.49 and its 200 day moving average price is $110.50. The company has a market cap of $3.29 billion, a P/E ratio of 7.47 and a beta of 2.13. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, December 6th. Atkore’s payout ratio is currently 10.13%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now owns 27,528 shares of the company’s stock, 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. 2.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. KeyCorp reduced their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada reduced their price target on shares of Atkore from $99.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, November 22nd. Loop Capital reduced their price target on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $117.00.

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.