Algert Global LLC Makes New $3.31 Million Investment in Atkore Inc. $ATKR

Algert Global LLC acquired a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 43,510 shares of the company's stock, valued at approximately $3,308,000. Algert Global LLC owned about 0.13% of Atkore as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Atkore in the second quarter valued at about $236,958,000. First Trust Advisors LP raised its holdings in Atkore by 18.7% during the 4th quarter. First Trust Advisors LP now owns 1,385,741 shares of the company's stock worth $87,648,000 after purchasing an additional 218,358 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Atkore by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company's stock valued at $72,341,000 after purchasing an additional 97,514 shares during the period. LSV Asset Management lifted its position in Atkore by 5.8% during the 4th quarter. LSV Asset Management now owns 960,450 shares of the company's stock valued at $60,748,000 after purchasing an additional 52,850 shares during the period. Finally, Coliseum Capital Management LLC bought a new position in shares of Atkore in the 4th quarter valued at about $51,189,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ATKR. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. Weiss Ratings raised shares of Atkore from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 12th. Roth Capital downgraded Atkore from a "buy" rating to a "neutral" rating and increased their price target for the company from $85.00 to $92.00 in a research note on Tuesday, August 4th. Finally, Citigroup raised their price target on Atkore from $74.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $143.33.

Atkore Stock Performance

ATKR stock opened at $93.67 on Friday. Atkore Inc. has a 1-year low of $53.75 and a 1-year 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 firm has a market cap of $3.16 billion, a PE ratio of -19.47 and a beta of 1.68. The business's 50-day moving average price is $81.75 and its two-hundred day moving average price is $74.07.

Atkore (NYSE:ATKR - Get Free Report) last posted 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 positive return on equity of 10.27% and a negative net margin of 5.55%.The business had revenue of $794.80 million during the quarter, compared to analysts' expectations of $756.23 million. During the same period in the prior year, the business earned $2.17 EPS. As a group, research analysts forecast that Atkore Inc. will post 5.15 earnings per share for the current year.

Atkore Announces Dividend

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

Insider Buying and Selling at Atkore

In other Atkore 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 transaction of $28,125.00. Following the completion of the transaction, the insider owned 35,803 shares of the company's stock, 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 through this link. 2.10% of the stock is owned by corporate insiders.

Atkore 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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