256,058 Shares in Atkore Inc. (NYSE:ATKR) Acquired by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. bought a new stake in shares of Atkore Inc. (NYSE:ATKR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 256,058 shares of the company's stock, valued at approximately $21,369,000. T. Rowe Price Investment Management Inc. owned about 0.74% of Atkore at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Atkore by 10.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock valued at $111,467,000 after acquiring an additional 134,517 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Atkore by 195.6% in the 4th quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock valued at $98,009,000 after acquiring an additional 777,113 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Atkore by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company's stock valued at $91,028,000 after acquiring an additional 6,234 shares in the last quarter. LSV Asset Management lifted its position in shares of Atkore by 24.2% in the 4th quarter. LSV Asset Management now owns 924,100 shares of the company's stock valued at $77,116,000 after acquiring an additional 180,160 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Atkore by 549.9% in the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock valued at $50,658,000 after acquiring an additional 513,631 shares in the last quarter.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup reduced their price target on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. KeyCorp cut their target price on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada increased their target price on shares of Atkore from $64.00 to $65.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 22nd. Finally, Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and cut their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $75.00.

Atkore Stock Performance

Shares of NYSE ATKR traded up $0.26 during trading hours on Tuesday, hitting $63.73. 369,645 shares of the company's stock were exchanged, compared to its average volume of 699,878. Atkore Inc. has a 1-year low of $49.92 and a 1-year high of $183.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 6.17 and a beta of 2.02. The company's 50-day moving average price is $61.22 and its 200-day moving average price is $76.56.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to analysts' expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm's revenue was down 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.12 EPS. On average, sell-side analysts expect that Atkore Inc. will post 5.79 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.01%. Atkore's dividend payout ratio (DPR) is 12.39%.

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.