Atkore Inc. $ATKR Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Atkore Inc. by 10.8%, owning 56,570 shares valued at approximately $3.39 million at the end of the first quarter.
• Various hedge funds have increased their holdings in Atkore, with Gates Capital Management Inc. leading by raising its stake by 29.6% in the fourth quarter.
• Atkore declared a quarterly dividend of $0.33 per share, representing an annualized dividend of $1.32 at a yield of 2.2%, with a payout ratio of 42.31%.

Russell Investments Group Ltd. decreased its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 10.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,570 shares of the company's stock after selling 6,867 shares during the period. Russell Investments Group Ltd. owned approximately 0.17% of Atkore worth $3,394,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Gates Capital Management Inc. raised its holdings in Atkore by 29.6% in the 4th quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company's stock valued at $217,584,000 after acquiring an additional 595,774 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Atkore by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company's stock valued at $91,028,000 after acquiring an additional 6,234 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Atkore by 33.4% in the 1st quarter. Victory Capital Management Inc. now owns 628,300 shares of the company's stock valued at $37,692,000 after acquiring an additional 157,470 shares during the last quarter. Wellington Management Group LLP raised its holdings in Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock valued at $50,658,000 after acquiring an additional 513,631 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in Atkore by 8.4% in the 1st quarter. Royce & Associates LP now owns 447,425 shares of the company's stock valued at $26,841,000 after acquiring an additional 34,673 shares during the last quarter.

Atkore Stock Performance

NYSE:ATKR opened at $60.1030 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.08 and a current ratio of 3.09. The stock has a market capitalization of $2.02 billion, a P/E ratio of 19.26 and a beta of 2.10. The company has a 50 day moving average price of $68.88 and a 200 day moving average price of $65.85. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $105.28.

Atkore Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the 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 completion of the transaction, the insider owned 31,873 shares of the company's stock, valued at approximately $1,892,300.01. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.99% of the company's stock.

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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