Jupiter Topco LLC Makes New Investment in Atkore Inc. $ATKR

Jupiter Topco LLC acquired a new stake in Atkore Inc. (NYSE:ATKR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,467 shares of the company's stock, valued at approximately $1,785,000. Jupiter Topco LLC owned approximately 0.07% of Atkore as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers lifted its position in shares of Atkore by 2.8% during the first quarter. Cetera Investment Advisers now owns 5,212 shares of the company's stock worth $307,000 after purchasing an additional 143 shares in the last quarter. California State Teachers Retirement System grew its holdings in Atkore by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 33,067 shares of the company's stock valued at $2,333,000 after purchasing an additional 214 shares in the last quarter. Adams Wealth Management increased its stake in Atkore by 0.5% during the 4th quarter. Adams Wealth Management now owns 40,726 shares of the company's stock worth $2,576,000 after buying an additional 220 shares during the period. Osaic Holdings Inc. increased its stake in Atkore by 15.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,794 shares of the company's stock worth $127,000 after buying an additional 240 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock worth $39,000 after buying an additional 246 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ATKR shares. Weiss Ratings raised shares of Atkore from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, August 12th. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Royal Bank Of Canada set a $76.00 price target on Atkore in a research note on Thursday, July 16th. Finally, Roth Capital downgraded Atkore from a "buy" rating to a "neutral" rating and increased their price target for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $143.33.

Atkore Stock Up 0.1%

Shares of NYSE:ATKR opened at $93.68 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $82.88 and a 200 day simple moving average of $74.88. The firm has a market cap of $3.16 billion, a PE ratio of -19.48 and a beta of 1.68. Atkore Inc. has a 12-month low of $53.75 and a 12-month high of $94.14.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.39. The firm had revenue of $794.80 million for the quarter, compared to the consensus estimate of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same period in the prior year, the firm posted $2.17 EPS. On average, equities research analysts anticipate that Atkore Inc. will post 5.15 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, August 18th. Atkore's dividend payout ratio (DPR) is -27.44%.

Insider Buying and Selling

In related news, insider Mark Lamps sold 300 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the sale, the insider directly owned 35,803 shares of the company's stock, valued at $3,356,531.25. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company's stock.

Atkore Company Profile

Atkore International Group Inc NYSE: ATKR is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company's electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.

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