Nuveen LLC Invests $11.50 Million in Atkore Inc. $ATKR

Key Points

• Nuveen LLC has acquired 191,726 shares of Atkore Inc. valued at approximately $11.5 million, representing about 0.55% of the company.
• Several large investors have significantly increased their positions in Atkore, with Pacer Advisors lifting their stake by 43,389.8% during the first quarter.
• Atkore recently announced a quarterly dividend of $0.33 per share, which translates to an annualized yield of 2.2% based on its current payout ratio of 42.31%.

Nuveen LLC purchased a new stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 191,726 shares of the company's stock, valued at approximately $11,502,000. Nuveen LLC owned about 0.55% of Atkore as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its position 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 buying an additional 259 shares during the period. GAMMA Investing LLC grew its position 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 period. New Age Alpha Advisors LLC purchased a new stake in shares of Atkore in the 1st quarter worth about $37,000. Versant Capital Management Inc grew its position in shares of Atkore by 358.9% in the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after buying an additional 542 shares during the period. Finally, Signaturefd LLC grew its position in shares of Atkore by 384.0% in the 1st quarter. Signaturefd LLC now owns 905 shares of the company's stock worth $54,000 after buying an additional 718 shares during the period.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.99% of the stock is owned by company insiders.

Atkore Stock Performance

ATKR traded up $0.07 during midday trading on Tuesday, hitting $58.92. 572,435 shares of the company traded hands, compared to its average volume of 604,284. 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 firm has a market capitalization of $1.98 billion, a PE ratio of 18.88 and a beta of 2.10. The company's 50-day moving average is $68.74 and its 200 day moving average is $65.81. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $105.28.

Atkore Announces Dividend

The firm 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 is 42.31%.

Analysts Set New Price Targets

ATKR has been the topic of a number of recent research reports. KeyCorp reaffirmed a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Citigroup reiterated a "neutral" rating and issued a $80.00 price target (up previously from $70.00) on shares of Atkore in a research note on Monday, June 9th. Royal Bank Of Canada upped their price target on shares of 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 target on shares of Atkore and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average 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.