Edgestream Partners L.P. Raises Stock Position in Atkore Inc. (NYSE:ATKR)

Edgestream Partners L.P. increased its holdings in shares of Atkore Inc. (NYSE:ATKR) by 923.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,826 shares of the company’s stock after purchasing an additional 36,835 shares during the period. Edgestream Partners L.P. owned approximately 0.11% of Atkore worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC raised its holdings in shares of Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares during the last quarter. Quarry LP purchased a new position in shares of Atkore during the second quarter worth $57,000. Mather Group LLC. raised its holdings in shares of Atkore by 895.7% during the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after purchasing an additional 421 shares during the last quarter. Covestor Ltd raised its holdings in shares of Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after purchasing an additional 390 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after purchasing an additional 805 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ATKR shares. Loop Capital cut their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada cut their price objective on shares of Atkore from $99.00 to $93.00 and set a “sector perform” rating for the company in a report on Friday, November 22nd. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Finally, KeyCorp cut their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Atkore presently has an average rating of “Hold” and an average price target of $117.00.

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now owns 27,528 shares in the company, valued at $2,635,530.72. The trade was a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.

Atkore Stock Up 1.2 %

Shares of NYSE ATKR opened at $94.31 on Monday. The company’s 50-day simple moving average is $88.49 and its 200-day simple moving average is $110.50. Atkore Inc. has a 52-week low of $76.01 and a 52-week high of $194.98. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 7.47 and a beta of 2.13. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be given a $0.32 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.36%. Atkore’s dividend payout ratio (DPR) is 10.13%.

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.