BI Asset Management Fondsmaeglerselskab A S Has $131,000 Stock Position in Atkore Inc. $ATKR

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Atkore Inc. by 78.5%, ending the quarter with 2,178 shares valued at approximately $131,000.
• In a contrasting trend, several hedge funds, including Harbor Capital Advisors and GAMMA Investing LLC, significantly increased their holdings in Atkore during the same period.
• Atkore announced a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 2.2%.

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 78.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,178 shares of the company's stock after selling 7,973 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Atkore were worth $131,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in Atkore by 97.0% during the first 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. GAMMA Investing LLC grew its position in Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after buying an additional 515 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Atkore during the first quarter worth about $37,000. Versant Capital Management Inc grew its position in Atkore by 358.9% during the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after buying an additional 542 shares in the last quarter. Finally, Signaturefd LLC grew its position in Atkore by 384.0% during the first quarter. Signaturefd LLC now owns 905 shares of the company's stock worth $54,000 after buying an additional 718 shares in the last quarter.

Atkore Trading Down 0.7%

Shares of ATKR stock traded down $0.42 during trading hours on Friday, reaching $58.15. The company had a trading volume of 154,255 shares, compared to its average volume of 599,352. The company has a 50 day moving average of $68.28 and a 200 day moving average of $65.64. 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 firm has a market cap of $1.96 billion, a price-to-earnings ratio of 18.64 and a beta of 2.10. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $105.28.

Atkore Dividend Announcement

The company 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 $0.33 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.3%. Atkore's dividend payout ratio is currently 42.31%.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the company'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 completion of the sale, the insider owned 31,873 shares in the company, valued at $1,892,300.01. This represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several analyst reports. KeyCorp reiterated a "sector weight" rating on shares of Atkore in a research note on Wednesday, August 6th. Royal Bank Of Canada upped their price objective on Atkore from $65.00 to $70.00 and gave the company 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 company a "buy" rating in a research note on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and issued a $80.00 price objective (up from $70.00) on shares of Atkore in a research note on Monday, June 9th. Finally, Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Atkore has a consensus rating of "Hold" and an average price target of $79.57.

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.