Deutsche Bank AG Has $10.33 Million Stock Holdings in Atkore Inc. (NYSE:ATKR)

Deutsche Bank AG increased its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 46.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,728 shares of the company's stock after purchasing an additional 39,306 shares during the period. Deutsche Bank AG owned approximately 0.36% of Atkore worth $10,325,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP lifted its position in shares of Atkore by 195.6% during the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock worth $98,009,000 after purchasing an additional 777,113 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Atkore by 549.9% during the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock worth $50,658,000 after buying an additional 513,631 shares during the last quarter. Norges Bank bought a new stake in shares of Atkore in the fourth quarter valued at approximately $42,339,000. Victory Capital Management Inc. boosted its position in shares of Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock valued at $39,291,000 after acquiring an additional 459,200 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Atkore in the fourth quarter worth $21,369,000.

Analysts Set New Price Targets

ATKR has been the subject of several research analyst reports. Citigroup cut their target price on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Roth Capital set a $78.00 price target on shares of Atkore and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Loop Capital lowered Atkore from a "buy" rating to a "hold" rating and lowered their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. KeyCorp raised their target price on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada boosted their price target on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $77.57.

Atkore Price Performance

Atkore stock traded down $0.05 during trading hours on Thursday, hitting $65.62. 29,174 shares of the stock were exchanged, compared to its average volume of 680,947. The stock has a market capitalization of $2.21 billion, a P/E ratio of 6.34 and a beta of 2.10. The business's 50-day moving average is $62.55 and its two-hundred day moving average is $74.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore Inc. has a 12 month low of $49.92 and a 12 month high of $157.25.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. The firm had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business's revenue was down 11.5% on a year-over-year basis. During the same period last year, the firm posted $4.08 EPS. Equities research analysts expect that Atkore Inc. will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Atkore's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 16th. Atkore's dividend payout ratio (DPR) is presently 25.38%.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the transaction, the insider now directly owns 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.99% of the company's stock.

Atkore Company 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.