Ieq Capital LLC Invests $1.04 Million in Atkore Inc. $ATKR

Key Points

• Ieq Capital LLC has made a new investment in Atkore Inc., purchasing approximately 17,299 shares worth about $1.04 million.
• Other institutional investors, including Gates Capital Management and Wellington Management, have also increased their stakes in Atkore, reflecting growing interest in the company.
• Atkore recently announced a quarterly dividend of $0.33 per share, yielding 2.3%, with a payout ratio of 42.31%.

Ieq Capital LLC purchased a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 17,299 shares of the company's stock, valued at approximately $1,038,000. Ieq Capital LLC owned about 0.05% of Atkore as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. CWM LLC increased its holdings 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 buying an additional 5,036 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 buying an additional 515 shares during the last quarter. KBC Group NV increased its holdings 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 buying an additional 429 shares during the last quarter. Nuveen LLC bought a new stake in shares of Atkore in the 1st quarter worth about $11,502,000. Finally, Principal Financial Group Inc. grew its holdings in Atkore by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 58,174 shares of the company's stock valued at $3,490,000 after purchasing an additional 2,006 shares during the last quarter.

Atkore Stock Down 1.4%

Shares of ATKR traded down $0.83 during mid-day trading on Monday, hitting $58.44. The company's stock had a trading volume of 25,230 shares, compared to its average volume of 596,040. Atkore Inc. has a 52-week low of $49.92 and a 52-week high of $105.28. The company's 50-day moving average is $66.90 and its 200-day moving average is $65.07. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 18.71 and a beta of 2.16.

Atkore Dividend Announcement

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

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company's 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 transaction, the insider owned 31,873 shares in the company, valued at approximately $1,892,300.01. This represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ATKR shares. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Citigroup reiterated a "neutral" rating and set a $80.00 price target (up from $70.00) on shares of Atkore in a report on Monday, June 9th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Atkore in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.