AQR Capital Management LLC Increases Stock Holdings in Atkore Inc. $ATKR

Key Points

• AQR Capital Management LLC increased its holdings in Atkore Inc. by 112.7%, acquiring an additional 56,298 shares during the first quarter of the year, bringing their total to 106,237 shares valued at $6,373,000.
• Several institutional investors, including Maverick Capital Ltd. and Gates Capital Management Inc., also enhanced their stakes in Atkore, indicating strong institutional interest in the stock.
• Atkore's current stock performance includes a price target of $79.57 with a consensus rating of "Hold" from research analysts, alongside a recent quarterly dividend of $0.33 per share.

AQR Capital Management LLC increased its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 112.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,237 shares of the company's stock after purchasing an additional 56,298 shares during the period. AQR Capital Management LLC owned approximately 0.32% of Atkore worth $6,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new position in shares of Atkore in the fourth quarter worth approximately $225,000. Deutsche Bank AG boosted its position in shares of Atkore by 46.6% in the fourth quarter. Deutsche Bank AG now owns 123,728 shares of the company's stock worth $10,325,000 after purchasing an additional 39,306 shares during the period. Gotham Asset Management LLC boosted its position in shares of Atkore by 61.6% in the fourth quarter. Gotham Asset Management LLC now owns 19,129 shares of the company's stock worth $1,596,000 after purchasing an additional 7,293 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Atkore in the fourth quarter worth approximately $581,000. Finally, Janus Henderson Group PLC boosted its position in shares of Atkore by 132.3% in the fourth quarter. Janus Henderson Group PLC now owns 70,228 shares of the company's stock worth $5,860,000 after purchasing an additional 39,996 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. KeyCorp reiterated a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Citigroup reiterated a "neutral" rating and set a $80.00 price objective (up previously from $70.00) on shares of Atkore in a research report on Monday, June 9th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $79.57.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction on 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 sale, the insider owned 31,873 shares of the company's stock, valued at approximately $1,892,300.01. The trade was a 3.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.99% of the stock is currently owned by company insiders.

Atkore Stock Down 0.0%

Shares of NYSE:ATKR traded down $0.01 during trading on Thursday, reaching $59.79. The stock had a trading volume of 117,041 shares, compared to its average volume of 596,293. Atkore Inc. has a one year low of $49.92 and a one year high of $105.28. The company has a market capitalization of $2.01 billion, a P/E ratio of 19.16 and a beta of 2.16. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. The firm's 50-day simple moving average is $64.70 and its 200 day simple moving average is $64.88.

Atkore Announces Dividend

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

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.