Bayforest Capital Ltd Makes New Investment in Atkore Inc. $ATKR

Key Points

• Bayforest Capital Ltd has acquired a new position in Atkore Inc. (NYSE:ATKR) by purchasing 15,346 shares valued at approximately $1,083,000, making it the 26th largest position in their investment portfolio.
• Multiple large investors, including Dogwood Wealth Management LLC and Harbor Capital Advisors Inc., have recently increased their stakes in Atkore, demonstrating growing interest in the company.
• Atkore Inc. announced a quarterly dividend of $0.33, resulting in an annualized dividend yield of 2.1% with a payout ratio of 42.31%.

Bayforest Capital Ltd bought a new position in Atkore Inc. (NYSE:ATKR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,346 shares of the company's stock, valued at approximately $1,083,000. Atkore accounts for about 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 26th largest position.

A number of other large investors have also added to or reduced their stakes in ATKR. Dogwood Wealth Management LLC bought a new stake in Atkore in the 2nd quarter worth approximately $26,000. Harbor Capital Advisors Inc. grew its position in shares of Atkore by 97.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock valued at $32,000 after acquiring an additional 259 shares during the period. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 515 shares during the period. Strs Ohio bought a new stake in shares of Atkore during the 1st quarter valued at $36,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Atkore during the 1st quarter valued at $37,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Atkore in a research report on Wednesday, October 8th. KeyCorp reissued a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Atkore presently has an average rating of "Hold" and a consensus price target of $79.57.

Insider Buying and Selling

In other Atkore 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 sale, the insider owned 31,873 shares in the company, valued at $1,892,300.01. The trade was a 3.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is currently owned by insiders.

Atkore Stock Up 3.3%

Shares of ATKR stock opened at $63.62 on Tuesday. The stock has a market cap of $2.14 billion, a P/E ratio of 20.39 and a beta of 2.13. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $105.28. 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 company's fifty day simple moving average is $59.76 and its two-hundred day simple moving average is $64.76.

Atkore Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.1%. Atkore's payout ratio is presently 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.

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