Atkore Inc. $ATKR Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its stake in Atkore Inc. by 7.2%, now owning 840,505 shares, valued at approximately $50.4 million.
• Several hedge funds have significantly boosted their holdings in Atkore, with Harbor Capital Advisors increasing its stake by 97% and GAMMA Investing LLC growing its stake by over 1,500% in Q1.
• Atkore recently declared a quarterly dividend of $0.33 per share, resulting in an annualized yield of 2.3%, with a payout ratio of 42.31%.

American Century Companies Inc. boosted its stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 840,505 shares of the company's stock after buying an additional 56,692 shares during the quarter. American Century Companies Inc. owned approximately 2.50% of Atkore worth $50,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Atkore by 952.0% during the 1st quarter. CWM LLC now owns 5,565 shares of the company's stock valued at $334,000 after buying an additional 5,036 shares in the last quarter. GAMMA Investing LLC increased its position in Atkore by 1,514.7% during the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after purchasing an additional 515 shares during the period. KBC Group NV increased its position in Atkore by 29.5% during the 1st quarter. KBC Group NV now owns 1,881 shares of the company's stock valued at $113,000 after purchasing an additional 429 shares during the period. Principal Financial Group Inc. increased its position in Atkore by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 58,174 shares of the company's stock valued at $3,490,000 after purchasing an additional 2,006 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after buying an additional 259 shares during the last quarter.

Atkore Stock Performance

NYSE:ATKR traded up $3.5630 during trading hours on Friday, hitting $60.1030. 680,807 shares of the company were exchanged, compared to its average volume of 773,807. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 19.26 and a beta of 2.10. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $105.28. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 2.08. The company's 50 day moving average price is $68.88 and its 200-day moving average price is $65.85.

Atkore Announces Dividend

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

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $59.37, for a total transaction of $59,370.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ATKR. KeyCorp reaffirmed a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Citigroup reaffirmed a "neutral" rating and issued a $80.00 price objective (up previously from $70.00) on shares of Atkore in a research report on Monday, June 9th. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada lifted their price objective on shares of Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Finally, Roth Capital set a $78.00 price objective on shares of Atkore and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $79.57.

Atkore Company 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.