Atkore Inc. (NYSE:ATKR) Shares Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Atkore Inc. by 65.1%, owning 204,215 shares valued at approximately $12.25 million as of its latest SEC filing.
• Atkore recently declared a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 2.2% and a payout ratio of 42.31%.
• Wall Street analysts have mixed opinions on Atkore, with a consensus rating of "Hold" and an average price target of $79.57, while prices from firms like Royal Bank of Canada and Roth Capital suggest potential for growth.

Deutsche Bank AG grew its stake in Atkore Inc. (NYSE:ATKR - Free Report) by 65.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 204,215 shares of the company's stock after acquiring an additional 80,487 shares during the quarter. Deutsche Bank AG owned about 0.59% of Atkore worth $12,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC increased its stake in shares of Atkore by 952.0% in the 1st quarter. CWM LLC now owns 5,565 shares of the company's stock worth $334,000 after acquiring an additional 5,036 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after acquiring an additional 515 shares during the last quarter. KBC Group NV increased its stake in shares of Atkore by 29.5% in the 1st quarter. KBC Group NV now owns 1,881 shares of the company's stock worth $113,000 after acquiring an additional 429 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Atkore by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 58,174 shares of the company's stock worth $3,490,000 after acquiring an additional 2,006 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake 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 acquiring an additional 259 shares during the last quarter.

Atkore Stock Performance

NYSE ATKR opened at $59.10 on Friday. The company has a market cap of $1.99 billion, a P/E ratio of 18.94 and a beta of 2.10. 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 stock has a 50-day moving average of $70.12 and a two-hundred day moving average of $66.70. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $105.28.

Atkore Announces Dividend

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

Wall Street Analyst Weigh In

ATKR has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Roth Capital set a $78.00 price objective on Atkore and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Citigroup reissued a "neutral" rating and set a $80.00 price objective (up from $70.00) on shares of Atkore in a research report on Monday, June 9th. KeyCorp reissued a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.

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