Atkore Inc. $ATKR Stock Holdings Lifted by Comerica Bank

Key Points

• Comerica Bank increased its stake in Atkore Inc. by 28.0%, currently holding 20,859 shares valued at approximately $1.25 million.
• Atkore recently announced a quarterly dividend of $0.33, translating to an annual yield of 2.3% with a payout ratio of 42.31%.
• Wall Street analysts show mixed sentiment, with a consensus rating of "Hold" and a target price of $79.57 for Atkore's stock.

Comerica Bank lifted its position in Atkore Inc. (NYSE:ATKR - Free Report) by 28.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,859 shares of the company's stock after acquiring an additional 4,558 shares during the period. Comerica Bank owned about 0.06% of Atkore worth $1,251,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC increased its stake in Atkore by 3.0% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,039 shares of the company's stock valued at $362,000 after buying an additional 177 shares during the period. Harbor Capital Advisors Inc. lifted its position in 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 in the last quarter. EP Wealth Advisors LLC lifted its position in Atkore by 3.9% in the 4th quarter. EP Wealth Advisors LLC now owns 7,364 shares of the company's stock worth $615,000 after buying an additional 276 shares in the last quarter. Harbour Investments Inc. lifted its position in Atkore by 29.1% in the 1st quarter. Harbour Investments Inc. now owns 1,330 shares of the company's stock worth $80,000 after buying an additional 300 shares in the last quarter. Finally, Virtus Family Office LLC lifted its position in Atkore by 1.6% in the 1st quarter. Virtus Family Office LLC now owns 24,387 shares of the company's stock worth $1,463,000 after buying an additional 382 shares in the last quarter.

Atkore Price Performance

NYSE ATKR opened at $58.05 on Friday. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.95 billion, a PE ratio of 18.61 and a beta of 2.16. The company has a 50 day moving average price of $67.14 and a two-hundred day moving average price of $65.18. Atkore Inc. has a 12-month low of $49.92 and a 12-month high of $105.28.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were paid a $0.33 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a yield of 2.3%. Atkore's payout ratio is 42.31%.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction that occurred 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 directly owned 31,873 shares in the company, valued at $1,892,300.01. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Citigroup reiterated a "neutral" rating and issued a $80.00 target price (up previously from $70.00) on shares of Atkore in a research report on Monday, June 9th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Atkore in a research 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $79.57.

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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