Quantbot Technologies LP Sells 52,000 Shares of Atkore Inc. $ATKR

Key Points

• Quantbot Technologies LP significantly reduced its holdings in Atkore Inc. by 60.3%, selling 52,000 shares and owning 34,283 shares valued at approximately $2.06 million post-sale.
• Several institutional investors, including Wellington Management and CacheTech, increased their stakes in Atkore, indicating ongoing investor interest in the company despite Quantbot's sell-off.
• Atkore recently declared a quarterly dividend of $0.33 per share, effective August 29, with a dividend yield of 2.3% and a payout ratio of 42.31%.

Quantbot Technologies LP lowered its holdings in Atkore Inc. (NYSE:ATKR - Free Report) by 60.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,283 shares of the company's stock after selling 52,000 shares during the period. Quantbot Technologies LP owned approximately 0.10% of Atkore worth $2,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ATKR. Harbor Capital Advisors Inc. raised its holdings in shares of 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 acquiring an additional 259 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Atkore in the first quarter valued at about $37,000. Versant Capital Management Inc grew its position in shares of Atkore by 358.9% in the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock valued at $42,000 after purchasing an additional 542 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Atkore by 384.0% in the first quarter. Signaturefd LLC now owns 905 shares of the company's stock valued at $54,000 after purchasing an additional 718 shares during the last quarter.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction dated 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 directly owned 31,873 shares in the company, valued at $1,892,300.01. The trade was a 3.04% decrease in their position. The transaction 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.

Wall Street Analysts Forecast Growth

ATKR has been the topic of several research analyst reports. Citigroup reaffirmed a "neutral" rating and issued a $80.00 price target (up from $70.00) on shares of Atkore in a research report on Monday, June 9th. Royal Bank Of Canada increased their target price on shares of 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 target price on shares of Atkore and gave the company a "buy" rating in a research note on Wednesday, May 7th. KeyCorp reiterated a "sector weight" rating on shares of Atkore in a research note on Wednesday, August 6th. 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $79.57.

Atkore Price Performance

Shares of NYSE:ATKR traded up $0.06 during trading on Wednesday, reaching $59.01. The stock had a trading volume of 60,015 shares, compared to its average volume of 600,881. Atkore Inc. has a 52 week low of $49.92 and a 52 week high of $105.28. The business's 50-day moving average price is $68.59 and its 200 day moving average price is $65.76. 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 stock has a market capitalization of $1.99 billion, a PE ratio of 18.91 and a beta of 2.10.

Atkore Announces Dividend

The business 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. This represents a $1.32 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Atkore's payout ratio is currently 42.31%.

About Atkore

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.