36,324 Shares in Atkore Inc. $ATKR Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG acquired 36,324 Atkore shares worth approximately $2.76 million, giving it about 0.11% ownership. Several other institutional investors also increased or initiated positions.
• Analyst sentiment remains mixed, with one Strong Buy, four Hold, and one Sell rating; Atkore’s consensus rating is Hold. Price targets were adjusted by several firms, including Roth Capital, Citigroup, and Royal Bank of Canada.
• Atkore exceeded quarterly expectations, reporting $1.92 in EPS versus the $1.53 consensus and revenue of $794.8 million. The company also announced a quarterly dividend of $0.33 per share, equal to a 1.4% annualized yield.

Deutsche Bank AG acquired a new stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,324 shares of the company's stock, valued at approximately $2,762,000. Deutsche Bank AG owned about 0.11% of Atkore at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in shares of Atkore during the 2nd quarter worth approximately $28,000. Kestra Investment Management LLC boosted its holdings in Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock worth $31,000 after buying an additional 391 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Atkore by 1,263.2% during the third 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 purchased a new stake in shares of Atkore during the first quarter worth $36,000. Finally, Jones Financial Companies Lllp grew its stake 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 acquiring an additional 246 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 300 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 35,803 shares in the company, valued at $3,356,531.25. This represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by company insiders.

Atkore Stock Up 0.0%

Atkore stock opened at $93.67 on Friday. The stock has a 50 day moving average of $81.49 and a two-hundred day moving average of $73.93. Atkore Inc. has a twelve month low of $53.75 and a twelve month high of $94.14. 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 price-to-earnings ratio of -19.47 and a beta of 1.68.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.39. The company had revenue of $794.80 million for the quarter, compared to analysts' expectations of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same period in the previous year, the company posted $2.17 EPS. As a group, research analysts expect that Atkore Inc. will post 5.15 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. Atkore's dividend payout ratio (DPR) is -27.44%.

About Atkore

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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