BNP Paribas Financial Markets Buys 70,955 Shares of Atkore Inc. (NYSE:ATKR)

BNP Paribas Financial Markets grew its stake in Atkore Inc. (NYSE:ATKR) by 145.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,863 shares of the company’s stock after acquiring an additional 70,955 shares during the period. BNP Paribas Financial Markets owned 0.33% of Atkore worth $10,157,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ATKR. Allspring Global Investments Holdings LLC grew its stake in Atkore by 26.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after purchasing an additional 261,234 shares in the last quarter. Marshall Wace LLP grew its position in shares of Atkore by 1,047.5% during the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company’s stock worth $30,260,000 after buying an additional 204,723 shares in the last quarter. Boston Trust Walden Corp purchased a new position in shares of Atkore during the second quarter valued at $23,306,000. American Century Companies Inc. raised its holdings in shares of Atkore by 22.9% in the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after acquiring an additional 144,283 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Atkore in the second quarter valued at about $17,857,000.

Atkore Trading Up 1.2 %

NYSE:ATKR opened at $94.31 on Monday. The firm has a 50 day moving average of $88.49 and a 200 day moving average of $110.50. 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 Inc. has a 52 week low of $76.01 and a 52 week high of $194.98. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 7.47 and a beta of 2.13.

Atkore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.32 per share. 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 is presently 10.13%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the sale, the vice president now owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. The trade was a 32.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now directly owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. 2.56% of the stock is owned by company insiders.

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.