Hotchkis & Wiley Capital Management LLC Purchases Shares of 138,010 Atkore Inc. $ATKR

Key Points

• Hotchkis & Wiley Capital Management LLC acquired 138,010 shares of Atkore Inc., valued at approximately $8,279,000, indicating a notable investment in the company.
• Atkore announced a quarterly dividend of $0.33 per share, with a yield of 2.2%, scheduled for payment on August 29th, reflecting a consistent return for investors.
• Analyst ratings for Atkore show a consensus of "Hold" with price targets ranging from $65 to $80, indicating mixed sentiment among financial analysts regarding the stock's future performance.

Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 138,010 shares of the company's stock, valued at approximately $8,279,000. Hotchkis & Wiley Capital Management LLC owned 0.41% of Atkore as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ATKR. Dimensional Fund Advisors LP lifted its holdings in shares of Atkore by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company's stock worth $91,028,000 after acquiring an additional 6,234 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Atkore by 0.8% in the 4th quarter. MetLife Investment Management LLC now owns 21,357 shares of the company's stock valued at $1,782,000 after purchasing an additional 171 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Atkore by 59.7% in the 4th quarter. Hsbc Holdings PLC now owns 27,068 shares of the company's stock valued at $2,252,000 after purchasing an additional 10,121 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Atkore in the 4th quarter valued at approximately $21,369,000. Finally, Voya Investment Management LLC boosted its stake in shares of Atkore by 1,593.5% in the 4th quarter. Voya Investment Management LLC now owns 201,665 shares of the company's stock valued at $16,829,000 after purchasing an additional 189,757 shares in the last quarter.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.37, for a total value of $59,370.00. Following the transaction, the insider owned 31,873 shares in the company, valued at $1,892,300.01. This trade represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.99% of the stock is owned by corporate insiders.

Atkore Trading Down 0.7%

NYSE ATKR traded down $0.40 during trading hours on Friday, hitting $58.17. 216,562 shares of the company's stock were exchanged, compared to its average volume of 599,589. The stock has a 50-day simple moving average of $68.28 and a 200 day simple moving average of $65.64. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $105.28. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 18.64 and a beta of 2.10. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 19th. Atkore's dividend payout ratio (DPR) is currently 42.31%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup reiterated a "neutral" rating and issued a $80.00 target price (up from $70.00) on shares of Atkore in a research report on Monday, June 9th. Royal Bank Of Canada increased their target price on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Roth Capital set a $78.00 target price on Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. KeyCorp reiterated a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $79.57.

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.