13,400 Shares in Atkore Inc. $ATKR Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,400 shares of the company's stock, valued at approximately $1,019,000.

Other hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of Atkore during the second quarter valued at $28,000. Kestra Investment Management LLC increased its position in shares of Atkore by 710.9% during the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock worth $31,000 after purchasing an additional 391 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Atkore by 1,263.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company's stock worth $32,000 after purchasing an additional 480 shares in the last quarter. Strs Ohio bought a new position in Atkore during the 1st quarter valued at about $36,000. Finally, Jones Financial Companies Lllp lifted its holdings in Atkore by 61.8% during the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock valued at $39,000 after purchasing an additional 246 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on ATKR shares. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a research note on Sunday, July 26th. Citigroup boosted their target price on Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price target on Atkore in a research report on Thursday, July 16th. Roth Capital cut Atkore from a "buy" rating to a "neutral" rating and raised their price target for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded Atkore from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $143.33.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 300 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the transaction, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company's stock.

Atkore Trading Up 0.1%

ATKR opened at $93.67 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3.16 billion, a PE ratio of -19.47 and a beta of 1.68. Atkore Inc. has a 1-year low of $53.75 and a 1-year high of $94.14. The firm has a 50-day moving average price of $81.75 and a two-hundred day moving average price of $74.12.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The company had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same period in the prior year, the business earned $2.17 earnings per share. As a group, equities analysts anticipate that Atkore Inc. will post 5.15 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 annualized dividend and a yield of 1.4%. Atkore's dividend payout ratio is currently -27.44%.

Atkore Company Profile

Atkore International Group Inc NYSE: ATKR is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company's electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.

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