Vanguard Group Inc. Has $211.19 Million Stock Position in Atkore Inc. $ATKR

Key Points

• Vanguard Group Inc. reduced its stake in Atkore Inc. by 4.4% during the first quarter, holding 3,520,389 shares valued at approximately $211 million.
• Insider Mark F. Lamps sold 1,000 shares of Atkore on August 15th, representing a 3.04% decrease in his ownership of the stock.
• Analysts have mixed opinions on Atkore, with Wall Street Zen upgrading the stock to a "buy" rating while others have maintained a "hold" or "neutral" stance, reflecting varying confidence in its future performance.

Vanguard Group Inc. cut its position in Atkore Inc. (NYSE:ATKR - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,520,389 shares of the company's stock after selling 161,298 shares during the quarter. Vanguard Group Inc. owned approximately 10.14% of Atkore worth $211,188,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Atkore in the 1st quarter valued at $144,000. New Age Alpha Advisors LLC bought a new stake in Atkore in the 1st quarter valued at $37,000. Kestrel Investment Management Corp bought a new stake in Atkore in the 1st quarter valued at $4,850,000. Harbour Investments Inc. boosted its holdings in Atkore by 29.1% in the 1st quarter. Harbour Investments Inc. now owns 1,330 shares of the company's stock valued at $80,000 after purchasing an additional 300 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Atkore by 29,230.4% in the 1st quarter. Federated Hermes Inc. now owns 209,419 shares of the company's stock valued at $12,563,000 after purchasing an additional 208,705 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ATKR. Citigroup reissued a "neutral" rating and issued a $80.00 price target (up from $70.00) on shares of Atkore in a report on Monday, June 9th. KeyCorp reissued a "sector weight" rating on shares of Atkore in a report on Wednesday, August 6th. Roth Capital set a $78.00 price objective on shares of Atkore and gave the stock a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Royal Bank Of Canada raised their price objective on shares of Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $79.57.

Atkore Price Performance

Shares of Atkore stock traded up $3.5630 during mid-day trading on Friday, reaching $60.1030. 680,807 shares of the stock were exchanged, compared to its average volume of 773,807. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 19.26 and a beta of 2.10. 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 50-day simple moving average of $68.88 and a 200 day simple moving average of $65.85. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $105.28.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.2%. Atkore's dividend payout ratio (DPR) is 42.31%.

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of the 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 completion of the sale, the insider owned 31,873 shares in the company, valued at $1,892,300.01. This trade represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.99% of the stock is owned by company insiders.

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.