9,533 Shares in Atkore Inc. $ATKR Purchased by First Hawaiian Bank

Key Points

• First Hawaiian Bank has purchased 9,533 shares of Atkore Inc. (NYSE: ATKR), valued at approximately $572,000, indicating growing institutional interest in the stock.
• Multiple investors have significantly increased their holdings in Atkore, with Harbor Capital Advisors raising its position by 97% in the first quarter.
• Atkore has recently announced a quarterly dividend of $0.33 per share, resulting in an annualized yield of 2.2%.

First Hawaiian Bank purchased a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,533 shares of the company's stock, valued at approximately $572,000.

A number of other large investors have also recently modified their holdings of ATKR. Harbor Capital Advisors Inc. increased its position in shares of Atkore by 97.0% in the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after purchasing an additional 259 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after buying an additional 515 shares during the last quarter. Strs Ohio purchased a new stake in shares of Atkore during the 1st quarter valued at $36,000. New Age Alpha Advisors LLC purchased a new stake in Atkore during the first quarter valued at about $37,000. Finally, Jones Financial Companies Lllp increased its position in shares of 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.

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.37, for a total value of $59,370.00. Following the completion of the transaction, the insider directly owned 31,873 shares of the company's stock, valued at $1,892,300.01. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ATKR. Citigroup restated a "neutral" rating and issued a $80.00 price objective (up from $70.00) on shares of Atkore in a report on Monday, June 9th. KeyCorp reissued a "sector weight" rating on shares of Atkore in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $79.57.

Atkore Stock Performance

Shares of ATKR stock opened at $61.29 on Monday. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 19.64 and a beta of 2.16. The stock has a fifty day moving average of $65.52 and a 200 day moving average of $64.94. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $105.28. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.2%. Atkore's payout ratio is presently 42.31%.

About Atkore

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.

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