Barclays PLC Buys 23,628 Shares of Atkore Inc. (NYSE:ATKR)

Barclays PLC boosted its stake in Atkore Inc. (NYSE:ATKR) by 50.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,736 shares of the company’s stock after purchasing an additional 23,628 shares during the quarter. Barclays PLC owned about 0.20% of Atkore worth $5,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System grew its stake in shares of Atkore by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock valued at $1,389,000 after buying an additional 85 shares during the period. Meixler Investment Management Ltd. boosted its holdings in Atkore by 6.5% in the second quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock worth $263,000 after acquiring an additional 119 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Atkore by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after acquiring an additional 129 shares in the last quarter. Cornercap Investment Counsel Inc. grew its stake in Atkore by 3.9% in the third quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock valued at $431,000 after acquiring an additional 189 shares during the period. Finally, Quarry LP increased its holdings in shares of Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares in the last quarter.

Insider Transactions at Atkore

In related news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the sale, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Daniel S. Kelly sold 13,071 shares of the company’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 value of $1,251,417.54. Following the completion of the transaction, the vice president now owns 27,528 shares in the company, valued at approximately $2,635,530.72. The trade was a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock worth $1,614,975 in the last ninety days. Company insiders own 2.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ATKR. KeyCorp cut their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Loop Capital dropped their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday. Finally, Roth Mkm assumed coverage on Atkore in a report on Tuesday. They set a “buy” rating and a $100.00 price objective for the company. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.67.

Atkore Stock Up 0.9 %

Atkore stock opened at $82.72 on Friday. Atkore Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $194.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The firm’s 50-day simple moving average is $89.48 and its 200 day simple moving average is $104.76. The stock has a market cap of $2.89 billion, a PE ratio of 6.55 and a beta of 2.10.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). The business had revenue of $788.30 million during the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.63 EPS. Research analysts predict that Atkore Inc. will post 6.69 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, December 6th. Atkore’s dividend payout ratio is presently 10.13%.

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.